HM Revenue & Customs (HMRC) have moved to reassure some farmers that paper returns will still be accepted when Making VAT Digital comes into force in 2019. Under the new system, which commences 1 April 2019, businesses operating above the VAT threshold of £85,000 are required to keep digital records and submit VAT returns online. … Continue reading Making Tax Digital: Paper VAT Returns Will Still Be Accepted
The question is, should Farmers submit VAT Returns on time? As most farmers have repayment VAT returns, it is usual practice, especially when busy with planting, harvesting, lambing etc, to wait until they have a few quarters-worth of VAT to submit. However, be aware! Prior to the new penalty arrangements in 2012, late repayment returns did … Continue reading Catch Up With Returns Before HMRC Catches Up With You!
Accountants can be a valuable asset to those running a farming business. At Green & Co we understand that you want to spend your time doing what you enjoy and what you do best. This is where we can help: by providing a tailored level of support to you and your business. There are various … Continue reading How Accountants Can Save Farmers Time and Money