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Sharing our knowledge

Working for years in the accounting industry has provided us with a wealth of knowledge across all areas of compliance. So we think it’s important to share this with our clients.

Here you’ll find a wide range of in-depth articles that clarify some of the more pressing business and industry issues and answer any of your questions about the world of accountancy.

New VAT penalty regime

On 1 January 2023, a new late payment and points-based penalty regime was introduced which replaces the VAT default surcharge. The new penalty system applies to accounting periods which start on or after 1 January 2023.

There are separate penalties for late submission of VAT returns and late payment of VAT. The way in which late payment interest is calculated has also changed.

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Recent posts

Cottons Group announces merger with Astute Service Limited in Rugby

Cottons Group’s exciting merger with Astute Service Limited in Rugby signifies a commitment to growth and enhanced services. Explore our strategic partnership and how it benefits clients in Rugby and London. Join us in this new chapter of exceptional accountancy and business advisory services.

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