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VAT challenges faced by businesses in 2021

13 December 2021 / Neil Warren
Issue: 4821 / Categories: Comment & Analysis
67153
Karaoke time

Key points

  • VAT rate for the hospitality will revert to 20% on 1 April 2022.
  • Brexit VAT changes for service-based businesses were limited.
  • Construction industry reverse charge seems to be working more smoothly than expected.
  • All VAT-registered businesses must move to making tax digital from 1 April 2022.

It’s time for a Christmas sing-along. Not Christmas carols I am afraid but some well-known party numbers to remind us of the three major VAT changes that we had to deal with in 2021 and two other important issues which will take effect on 1 April next year. I have chosen six fantastic songs performed by top international stars so get ready to blast out these popular tunes.

Reverse charge for builders

My Way by Frank Sinatra

Despite a lot of protestations from builders accountants trade bodies and Uncle Tom Cobley the reverse charge rules for builders...

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