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New VAT penalty regime – the changes explained

New VAT penalty regime – the changes explained

A new VAT penalties regime was brought in this month, and any firms or individuals missing their filing deadline from January 2023 onwards will receive penalty points even if there is no VAT due to be paid. While this may sound more benign than getting a fine,...
Allowances For Replacement Of Domestic Items

Allowances For Replacement Of Domestic Items

If you let out the residential property (a dwelling house) you may be able to claim a deduction for the cost of replacing domestic items such as: Movable furniture for example beds, free-standing wardrobes Furnishings for example curtains, linens, carpets, floor...