Digital VAT record-keeping and reporting will help businesses to get their tax right the first time, HM Revenue & Customs said as it extended a pilot scheme to half a million businesses.
My news story for Worldwide Tax Daily, published by Tax Analysts on October 18 (paywall):
HMRC Urges Businesses to Join Digital VAT Pilot
HM Revenue & Customs has alerted 145,000 businesses that trade only with EU countries to changes that would have an immediate impact in the event of a no-deal Brexit in March 2019.
HMRC sent separate letters, signed by Deputy Chief Executive Jim Harra, to VAT-registered businesses based in Northern Ireland and those based elsewhere in the United Kingdom.
For businesses outside Northern Ireland, HMRC confirmed that in a no-deal Brexit scenario, those trading with the European Union only would have to start completing customs declarations from March 2019, and that customs checks would be applied for the first time. Read more:
My news story for Tax Notes (paywall), September 14
HMRC: Letters on ‘no deal’ Brexit advice for businesses only trading with the EU, September 13