VAT

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Tax | Updated guidance on VAT liability of goods on approval

HMRC has published updated guidance for mail order retailers and others, clarifying its policy regarding when goods are supplied on approval and the VAT liability of the delivery charges for these goods

19 Jun 2018

Tax | Treasury urged not to lower VAT registration threshold

The Low Income Tax Reform Group (LITRG) is cautioning the Treasury against reducing the VAT registration threshold in the near future, as there are so many fundamental changes on the horizon for small businesses to get to grips with in the next few years, such as Brexit and HMRC’s Making Tax Digital programme

18 Jun 2018

Tax | HMRC consults on construction services VAT reverse charge

HMRC has opened a six-week technical consultation on draft secondary legislation for a VAT reverse charge on certain construction services, which is intended to remove the opportunity for fraudsters to charge VAT and then go missing before paying it over to the Exchequer

7 Jun 2018

Tax | VAT updates: June 2018

Graham Elliott, VAT expert at City & Cambridge Consultancy asks when a charity is not a charity following Wakefield College VAT decision, whether goods or services in paragon, language barrier reasonable excuse

1 Jun 2018

Tax | Ebay and Amazon pledge to promote VAT compliance

The European arms of Ebay and Amazon have signed an agreement with HMRC to tackle online VAT fraud and promote VAT compliance to users of online marketplaces, although there are only three signatories to the agreement so far

30 May 2018

Tax | EU sets out draft rules to amend VAT Directive to cut €50bn fraud

The European Commission has issued the detailed technical amendments to overhaul the EU rules on VAT to cut down on fraud across the 28 member states, effective from 2021, which will affect business to business VAT compliance

30 May 2018

Tax | Farming: tax planning on farm property renovations

Julie Butler, partner at Butler & Co, considers tax planning arrangements and VAT rules around repairing and restoring neglected farmhouses and barns, comparing the reduced 5% VAT rate for renovation on an unoccupied property against various tax reliefs for habited properties

23 May 2018

Tax | Minor software providers sign up to Making Tax Digital pilot

With less than a year until the rollout of Making Tax Digital for VAT reporting becomes mandatory, HMRC has signed up two more software providers for the income tax pilot

16 May 2018

Tax | HMRC spend on debt collectors balloons

In a bid to close the tax gap and chase up recalcitrant taxpayers, HMRC has ramped up spending on private sector debt collectors by 62% in the last year to reach £39m, compared to £24m in 2016

15 May 2018

Tax | Warning on VAT when disposing of assets from historic houses

HMRC has updated the rules on disposals of assets from historic houses within the scope of VAT, with guidance which cancels and replaces the previous notice from January 2002

14 May 2018

Tax | Number of tax refund scams escalating

A sharp rise in the number of scam emails and text messages targeting taxpayers has been flagged by HMRC, with renewed warnings that criminals are attempting to trick the public into thinking they have received a tax rebate so they hand over their account and personal details

10 May 2018

Tax | VAT updates: May 2018

Graham Elliott, VAT expert at City & Cambridge Consultancy argues that VAT reform is essential as there is no point defending the indefensible plus, cost sharing exemption, split payments on online platforms

1 May 2018

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VAT

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Tax | Online marketplaces to sign agreement tackling VAT fraud

HMRC wants all online marketplaces operating in the UK to sign an agreement to ensure their sellers understand the tax rules and to help tackle online VAT fraud and errors taking place on their platforms, with estimates suggesting a tax loss of between £1bn and £1.5bn in 2016 to 2017

26 Apr 2018

Tax | Taxpayer rights under Human Rights Act explained

HMRC has issued factsheet CC/FS9 on the individual rights of taxpayers who are facing penalties for non-compliance with tax rules, focusing on article 6 of the European Convention on Human Rights

23 Apr 2018

Tax | VAT: issues of single and multiple supply

Stanley Dencher, senior technical writer at Croner-i, examines various recent tax cases where questions have arisen over whether a deal should be treated as single supply or multiple supply for VAT

18 Apr 2018

Tax | Call for devolved VAT in Scotland

The Scottish parliament should be given responsibility for setting VAT rates post-Brexit as existing legal obstacles to VAT devolution will no long apply, according to Reform Scotland, an independent, non-party think tank, which says Scotland needs to widen its tax base

16 Apr 2018