New VAT registration service from 1 August
A new VAT registration service goes live for accountants and tax advisors on 1 August 2022. What does this mean for registrations awaiting submission?
                        
                        The benefit of the new service is that when advisors register their clients for VAT, they will be automatically signed up for MTD for VAT. Currently, there is a requirement to sign up for each service separately. So how does this affect any current applications? Any saved, incomplete registrations will be lost if they are not submitted by 5.00pm on 31 July 2022. 31 July is a Sunday so, in reality, advisors will need to review incomplete registrations before the close of business on Friday 29 July. It may be more efficient to scrap any in progress applications and register clients on or after 1 August, to take advantage of the automatic MTD registration. Further information is available here.
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MONTHLY FOCUS: TAX PLANNING FOR MARRIED COUPLES (TRADERS AND COMPANIES)
Married couples have been taxed separately rather than as a unit since 1990. There are a number of strategies married couples (and civil partners) can adopt to save tax. This Monthly Focus looks at business-related income planning.
 





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