Updated Notice 700: the VAT guide

HMRC has updated VAT Notice 700 (VAT Guide – the guide to VAT rules and procedures) to expand the section on non-standard tax periods (section 20.3.3). Businesses which are VAT registered and need to change to non-standard tax periods must apply in writing detailing the change of circumstances. Non-standard tax periods can either be monthly (must end 14 days either side of a standard tax period end date) or quarterly (must end 20 days either side of a standard tax period date).