VAT threshold increase could boost growth for small businesses.
FSB proposes vital VAT reforms
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VAT
New VAT registrations online only
Paper VAT registration to be removed from mid-November.
Tax system “overcomplicated”, say MPs
Current tax system is an obstacle to growth.
HMRC launches VAT time-to-pay portal
Eligible businesses can set up payment plans online.
Online VAT portal to close in May
Businesses will need to follow MTD for VAT rules.
Confusion over MTD software pricing
Businesses cite pricing and hidden costs as a concern.
New VAT penalty regime starts from 1 January
Default surcharge to be replaced by a fixed rate, points based system.
Old MTD for VAT portal to close
Businesses have until November to become MTD-compliant.
MTD for VAT brings in extra £195m
Scheme cuts costs caused by mistakes, HMRC says.