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Latest News: Its all about VAT - useful guide from registration to relief schemes

VAT is a complex tax that is administered entirely by the taxpayer, the business. HMRC expect the business to know how to manage the tax and to operate reliefs, simplifications and apply all the complex VAT rules to comply. Failure to do so will result in interest charges and penalties. Over the next few months some basic guidance on how to manage VAT will be provided, but this will be general guidance and it is the businesses’ responsibility to ensure that it applies to their particular situation. This month VAT registration will be examined.

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