A new points-based penalty applies to late VAT returns for VAT periods beginning on or after 1 January 2023. The first monthly return to be affected was the one due by 7 March, with the first affected quarterly return due 7 May. This new returns penalty regime joins the completely separate new penalties for late … More New points-based penalties for late VAT returns

The biggest marshmallows are in fact VAT free. Theintricacies of VAT continue to delight or inflame, with marshmallows the latest food product to come under the spotlight. The outcome of a recent First-Tier Tribunal case means that VAT classification can now differ between miniature, regular and mega-sized marshmallows, highlighting again the importance of accurate understanding … More The marshmallow paradox – VAT or no VAT?