VAT R US, The shard, 32 London Bridge Street, London (2026)

09/10/2025

https://www.ft.com/content/b4ef2dbc-71f6-40b0-b479-90709b2c6905

📉 UK Government Borrowing Revised Down by £2bn

The Office for National Statistics (ONS) has revised the UK's government borrowing figures for the current fiscal year, reducing them by £2 billion. This adjustment follows the identification of a VAT error, which led to the overstatement of borrowing in previous reports.

For businesses, this is a reminder of the importance of accurate VAT reporting to avoid discrepancies and ensure compliance.

Could your business be missing VAT refunds or making reporting errors that cost you money? 💬

Source: Financial Times

Statistics agency reduces estimate for current fiscal year weeks ahead of Rachel Reeves’ Budget

16/09/2025

https://www.expressandstar.com/news/business/2025/09/15/wetherspoons-pubs-across-west-midlands-to-cut-prices-of-food-and-drink-for-one-day-to-highlight-tax-inequality/

Wetherspoons Cuts Prices to Highlight Tax Inequality

Wetherspoons pubs across the West Midlands are slashing food and drink prices for a day to draw attention to perceived tax inequalities affecting the hospitality sector. The move underscores ongoing debates about business taxes, VAT, and how they impact both customers and operators.

For business owners, it’s a reminder to stay on top of VAT and tax planning, ensuring you’re not overpaying or missing out on refunds.

Could your business be paying more VAT than necessary?

Source: Express & Star – Wetherspoons Cuts Prices to Highlight Tax Inequality

Wetherspoons pubs from across the region are set to reduce the prices of food and drink for one day as part of a campaign to highlight the benefits of reducing VAT in hospitality.

16/09/2025

https://www.thetimes.com/uk/politics/article/rachel-reeves-budget-vat-energy-bills-2lwctvvwk

What Rachel Reeves’ Budget Means for VAT and Your Business

Shadow Chancellor Rachel Reeves has highlighted VAT and energy costs in the upcoming budget, signaling changes that could affect businesses and households alike. Sudden VAT hikes can impact cash flow, while energy bills remain a pressing concern for many small businesses.

For business owners, this is a reminder to review VAT claims and ensure nothing is left unclaimed. Staying proactive with tax planning can save your business thousands.

Could your business be missing out on VAT refunds right now?

Source: The Times – Rachel Reeves on Budget, VAT, and Energy Bills

The chancellor told cabinet colleagues that ‘all options were on the table’ for a budget giveaway to ease the cost of living

20/08/2025

https://www.bbc.co.uk/news/articles/cm2k1m56xgjo

💼 VAT Changes Could Affect Your Business 💼

The BBC reports that HMRC is facing delays in processing VAT repayments, leaving some businesses waiting longer for refunds. For VAT-registered companies, this can impact cash flow and planning, especially if you were expecting timely payments.

At VAT R US, we help businesses stay on top of their VAT claims, correct past returns, and recover funds efficiently. Don’t let delays hold your business back.

💬 Experiencing VAT repayment issues? Message us today – we have all the answers!

Source: BBC News

Reports suggest the government is considering shaking up the property tax system to raise revenue.

16/08/2025

https://www.theguardian.com/politics/ng-interactive/2025/aug/16/could-wealth-tax-work-in-the-uk-visual-guide

💰 Could a Wealth Tax Hit UK Businesses? 💰

The UK government is exploring the idea of a wealth tax, which could impact high-value business owners and investors. According to The Guardian, this tax could change the landscape for business finances and long-term planning.

For VAT-registered businesses, understanding how new taxes interact with your existing obligations is crucial. With the right guidance, you can protect your cash flow, ensure compliance, and spot opportunities for additional claims.

💬 Are you ready for potential tax changes? Message us today – we have all the answers!

Source: The Guardian

Rachel Reeves is under pressure to consider a new levy to help balance the books. We look at her options

16/08/2025

https://www.thetimes.com/business-money/money/article/vat-raid-tax-rise-rachel-reeves-comment-7ml3fmtzj

💼 VAT & Tax Alert for Businesses 💼

The UK government is considering changes to VAT and other taxes that could affect how much businesses pay. According to The Times, Finance Minister Rachel Reeves has suggested potential “VAT raids” as part of broader tax increases.

For VAT-registered businesses, this could mean higher costs if you’re not careful—but with the right expert advice, you could stay compliant and even identify additional claims you’re entitled to.

What does this mean for you? Make sure your VAT is accurate, up-to-date, and optimized—our team of ex-tax inspectors can help you maximize refunds and avoid penalties.

💬 Are you prepared for potential changes? Message us today – we have all the answers!

Source: The Times

Forget income tax, a broad base levy on spending would be fairer and simpler in the long run, argues the economist Tom Clougherty

21/07/2025

🚀 Want to Unlock the Secrets to VAT Savings? 💼

Are you a VAT-registered business? You could be leaving money on the table! At SMART VAT, we help businesses like yours maximize VAT claims and ensure you're not missing out on refunds you're entitled to.

✅ No Win, No Fee
✅ Fast VAT Refunds – Get paid in 2–3 days
✅ Expert Advice from former tax inspectors

Want to know how much you could claim back? Visit our website and find out how we can help you get the VAT refunds you deserve.

🔗 Click here to get started:

Get in touch with 121 Tax Claims for professional accountancy services. We specialize in VAT corrections, tax claims, and comprehensive tax advice tailored to your business needs. Reach out today to ensure your tax affairs are in order and compliant.

20/07/2025

https://www.gov.uk/guidance/relief-from-vat-on-bad-debts-notice-70018

Source: UK Government - VAT Notice 700/18: Relief from VAT on Bad Debts

💼 Is Your Business Losing Out on VAT Relief Due to Unpaid Invoices?

If your VAT-registered business has supplied goods or services and hasn't been paid, you might be eligible to reclaim the VAT previously accounted for. This is known as Bad Debt Relief.

✅ Key Conditions to Qualify:

VAT Paid to HMRC: You must have already accounted for and paid the VAT to HMRC.

Debt Written Off: The debt must be written off in your day-to-day VAT accounts and transferred to a separate bad debt account.

Debt Unpaid for 6 Months: The debt must remain unpaid for at least 6 months after the later of the payment due date or the date of supply.

No Payment or Assignment: The debt must not have been paid, sold, or factored under a valid legal assignment.

No Payment Received: You must not have received any payment for the supply.

📌 How to Claim:

Include the amount of VAT you're reclaiming in Box 4 of your VAT Return for the period in which you meet the above conditions.

Maintain detailed records, including copies of invoices, a separate bad debt account, and any correspondence related to the debt.

⚠️ Important Notes:

If you later receive payment for a debt previously written off, you must repay the VAT element to HMRC.

Claims must be made within 4 years and 6 months from the later of the payment due date or the date of supply.

**📞 Need Help with Your VAT Claims?
Contact us today to ensure you’re reclaiming everything you’re entitled to. Our expert team is here to guide you through the process with ease. Don’t leave money on the table – get in touch now!

Check if you can claim relief from VAT if you supply goods or services to a customer, but you are not paid.

15/07/2025

https://news.sky.com/story/money-inflation-interest-rate-mortgage-consumer-news-butcher-michelin-cheap-eats-live-13040934?postid=9091352&utm_source=chatgpt.com

💡 How to Claim Back VAT on Your Holiday Buys

Did you know that you can claim back VAT on purchases made during your holidays abroad? 🌍 If you're a non-EU resident, you could get a refund on the VAT for items you buy while traveling!

Here’s how it works:

Eligibility: You need to be a non-EU resident or meet specific criteria.

Minimum Spend: Ensure your purchases meet the minimum threshold required for VAT refunds.

Documentation: Keep your receipts and fill out the VAT refund forms.

Customs Validation: Before leaving the country, make sure customs validates your claim.

By following these simple steps, you can save a chunk of change on your next holiday! ✈️💸

Source: Sky News – "How to claim back VAT on your holiday buys"

Welcome to the Money blog, Sky News' personal finance and consumer hub. Today: for our Weekend Money feature, we speak to adults spending thousands on toys.

10/07/2025

https://www.moneysavingexpert.com/banking/tax-rates/

Source: MoneySavingExpert – Tax Rates 2025/26

📊 Understanding UK Tax Rates for 2025/26

The UK tax system for the 2025/26 tax year follows a progressive structure, meaning the rate of tax you pay increases as your income rises. Here's a breakdown:

Personal Allowance: Up to £12,570 – 0% tax.

Basic Rate: £12,571 to £50,270 – 20% tax.

Higher Rate: £50,271 to £125,140 – 40% tax.

Additional Rate: Above £125,140 – 45% tax.

It's important to note that the Personal Allowance decreases by £1 for every £2 earned over £100,000, effectively reducing to zero at £125,140. This means that for income between £100,000 and £125,140, the effective tax rate can be as high as 60% due to the loss of the Personal Allowance.

Additionally, the Starting Rate for Savings allows individuals to earn up to £5,000 in savings interest tax-free, depending on their income level. This can significantly benefit those with lower earnings and substantial savings.

Understanding these tax bands and allowances is crucial for effective financial planning. If you have any questions or need assistance in calculating your potential tax liabilities, feel free to reach out.

MoneySavingExpert’s guide to tax rates for 2025/26 including tax brackets, national insurance, capital gains tax and more

10/07/2025

https://www.ft.com/content/cbfe1429-de80-4677-bc58-e6d470328ee9

Source: Financial Times – "Chancellor Rachel Reeves Rules Out Income Tax, NI & VAT Hikes"

📉 Chancellor Rachel Reeves Rules Out Income Tax, NI & VAT Hikes

Chancellor Rachel Reeves has confirmed that the government will not raise income tax, National Insurance, or VAT, maintaining the Labour Party's 2024 manifesto pledge despite economic pressures.

Economists suggest Reeves may need an additional £30 billion in revenue due to slow economic growth and policy reversals. Earlier this week, Reeves indicated to Cabinet ministers that a reversal in benefit reforms might necessitate tax increases, raising speculation about other potential revenue sources.

There are concerns that fuel duties may be targeted, threatening to significantly impact motorists who are already burdened with increasing Vehicle Excise Duty, parking charges, tolls, and congestion fees. AA President Edmund King warned that higher fuel taxes could be economically damaging and accelerate inflation. Despite this, Treasury sources reaffirmed Reeves' commitment to avoid changes in the primary tax rates.

What are your thoughts on the government's decision to avoid raising income tax, National Insurance, or VAT? Will this affect your business or personal finances?
Message us now – we have all the answers to help you navigate these changes!

Delays in dealing with fiscal pressures risk further damage to household consumption, corporate investment and overall growth

06/07/2025

💸 Think Your Business Might Be Missing Out on Unclaimed VAT? You’re Probably Right! 💸

Did you know your business could be missing out on thousands of pounds in unclaimed VAT? Don’t leave money on the table! With our HMRC-compliant strategy, we help businesses like yours claim back up to £98,000 per month—no upfront costs and no obligation to proceed.

✅ 24-Hour Approval
✅ Paid Out in 2–3 Working Days
✅ No Win, No Fee – You only pay if we recover funds for you!

Ready to find out how much you could be missing?
Simply contact us today, and our accountancy team will guide you through the process. We specialize in VAT corrections and claims to help your business get what it’s owed.

🔗

Get in touch with 121 Tax Claims for professional accountancy services. We specialize in VAT corrections, tax claims, and comprehensive tax advice tailored to your business needs. Reach out today to ensure your tax affairs are in order and compliant.

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