VAT

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Image for tax investigations reel 28 more 2024

Tax | Tax investigations reel in 28% more in 2024

Extra funding for HMRC has raked in £45.7bn in tax probes in 2024, a £10bn rise from the previous year, while over £10bn more in VAT may yet be recovered from large businesses

13 Jan 2025

Tax | Private school VAT raises question about rate on meals

With the removal of the VAT exemption for private schools, finance teams are facing operational challenges with confusion on charges on meals and vocational income, warns Audrey Fearing, partner at RSM

10 Jan 2025

Tax

VAT

Tax Compliance

Image for hmrc charges interest when no tax due

Tax | HMRC charges interest when no tax is due

The Chartered Institute of Taxation (CIOT) is lobbying the government to address unfair tax rules as HMRC interest rates on late payments rise

8 Jan 2025

Tax | Labour’s private school VAT raid begins

Labour’s addition of VAT on private school fees came in from 1 January with many parents having to cough up thousands of pounds if their schools decide not to cover the increase

2 Jan 2025

Tax | HMRC catches up with Spice Garden over £250k tax bill

The owner of an Indian restaurant has been slapped with a bill for over £250,000 after HMRC officers witnessed staff hiding cash under the till

24 Dec 2024

Tax | IT mistake at HMRC leads to VAT penalty blunder

An error with IT systems at HMRC has led to VAT returns filed on 7 December not being registered leaving many with penalties against their businesses

24 Dec 2024

Tax

VAT

HMRC

Image for private school vat sees fees rise average ps36k

Tax | Private school VAT sees fees rise average £3.6k

Six families with children in private school are taking their dispute to the High Court through a judicial review into the legality of imposing 20% VAT

23 Dec 2024

Tax

VAT

Image for managing vat house hybrid or outsourced

Tax | Managing VAT: in-house, hybrid or outsourced

With an increasingly complex indirect tax landscape, deciding what is the right mix of in-house, hybrid and external resources is critical to ensure compliance, says Peter Boerhof, senior director, VAT at Vertex

18 Dec 2024

Tax

VAT

Tax Compliance

Image for hmrc clarifies vat penalties when payment 31 days late

Tax | HMRC clarifies VAT penalties when payment 31 days late

HMRC has updated the guidance about how to settle VAT payments which are overdue by 31 days or more when penalties come into play

10 Dec 2024

Tax | Prism Payroll owes £1.15m VAT penalty

A Staffordshire umbrella payroll company has been fined more than a million pounds by HMRC for failure to pay VAT on transactions

6 Dec 2024

Tax

VAT

HMRC

Image for alcohol importers ps25m vat case sent back ftt

Tax | Alcohol importer’s £25m VAT case sent back to FTT

Judges have sent back an alcohol importer’s appeal over a multimillion VAT case to the First Tier Tribunal (FTT)

3 Dec 2024

Tax | Accountant to stars loses claim for damages against HMRC

One-time celebrity accountant Christopher Lunn has lost a case at County Court for claims of damage and injury against HMRC

2 Dec 2024

Business | ‘Tax fugitive’ caught out by an £18 kebab

HMRC caught up with a VAT fraudster after he shelled out £18 for a kebab in Wales, eventually being sentenced to three years and four months imprisonment

27 Nov 2024