OUR LATEST INSIGHTS

Blog24th Mar 2022

Phase Three of Making Tax Digital for VAT

Making Tax Digital (MTD) for VAT was initially rolled out for VAT registered businesses with turnover above the VAT registration threshold of £85,000 in April 2019.

Blog24th Jan 2022

Brexit – One year report card

With the first 12 months of post-Brexit trade under our belts, now is an ideal time to take stock and consider the report card for Brexit. Alistair Duncan, Head of Indirect Tax, looks at which strengths can be highlighted and…

Blog25th Nov 2021

Cheers to Indirect Tax relief!

Indirect Tax changes can help revitalise the tourism and hospitality sector 

Blog29th Apr 2021

Reverse Charge for Construction Services – Some early complexities

Following the introduction of the domestic reverse charge for construction services on 1 March 2021, many construction businesses will be preparing their first VAT returns under the new regime. From our experience of advising construction clients, what appears to be…

Blog3rd Mar 2021

New Extension to VAT Rate Cut for Tourism & Hospitality Industries

Following Rishi Sunak’s budget announcement earlier today the temporary reduced rate of 5% VAT for the Tourism and Hospitality Sectors has been extended for a further 6 months until 30th September 2021.  Furthermore, an interim rate of 12.5% will be…

Blog18th Feb 2021

Did you defer your VAT due to COVID?

*Updated 23 February 2021* The VAT Deferred payment scheme is now open and can be applied for using the following link: https://www.gov.uk/guidance/deferral-of-vat-payments-due-to-coronavirus-covid-19 If you have any queries regarding the scheme, please contact your usual AAB contact.

Blog17th Feb 2021

Construction Reverse Charge upcoming changes – Q&A

Important VAT changes are coming to the construction and property sector from 1 March 2021. The Construction Reverse Charge is being introduced, changing who is responsible for accounting for VAT in relation to certain supplies. But what does this mean?…

Blog8th Feb 2021

The Seafood Sector & Brexit – Q&A

Following on from issues the seafood sector has faced as a result of Brexit, Alistair Duncan hosted a Q&A session on LinkedIn to answer the most frequently asked questions since New Year. Below is a round up of the questions…

Blog25th Sep 2020

Don’t get caught in the post-Brexit customs net

Scotland’s Food and Drink sector is vitally important to the Scottish Economy. Consistently Food and Drink is Scotland’s top export sector, latest HM Revenue and Customs statistics shows that, for 2018, food and drink exports totalled £6.3bn. Of this, £2.3bn were to the EU. 

Blog7th Jul 2020

Is the VAT Rate Cut a Stimulus or suppressor?

As speculation increases that Chancellor Rishi Sunak will look to a reduction in the VAT rate as part of the UK Government’s economic stimulus measures, it is worth considering the potential impact on the economy and on business of a rate change. …

By Alistair Duncan

Blog5th Jun 2020

Breaking News – Implementation of Domestic Reverse Charge Delayed until 1 March 2021

HMRC have confirmed this morning in Revenue and Customs Brief 7 that the implementation of the Domestic Reverse charge has been delayed for a further five months. The new implementation date is 1st of March 2021. Please click to read our…

Blog14th May 2020

Doing Business in Norway – How to get a VAT refund

If you are travelling to or conducting business with companies in Norway, you may incur VAT on expenditure incurred in country. With a standard rate of VAT at 25%, the VAT cost can build up very quickly. If you incurred VAT in…