Tax | Making Tax Digital for VAT: how will it work

Plans to go ahead with Making Tax Digital for VAT reporting from April 2019 are well under way with the government consulting on final details of the rules for so-called ‘electronic accounts’. Stephen Relf CTA ACA, tax writer at Croner-i, examines the proposals 

9 Jan 2018

Tax

Making Tax Digital

VAT

HMRC

Tax Planning

Consultations

Tax | VAT cut on bridge toll to benefit Welsh business

Commuters, drivers and businesses across south Wales and the south west of England are set to make savings as a result of the UK government’s decision to reduce the charges to cross the Severn toll bridges by removing VAT

8 Jan 2018

Tax

VAT

Tax Planning

Tax | EU pushes for 15% minimum VAT rate

The EU is consulting on a draft directive that would make permanent the provision in the EU VAT Directive that requires all member states to levy a minimum standard VAT rate of at least 15%, which is set to lapse from the beginning of this year

8 Jan 2018

Tax

VAT

Tax Compliance

Tax Planning

Tax | UAE and Saudi Arabia introduce VAT

The United Arab Emirates (UAE) and Saudi Arabia have begun charging VAT on goods and services from 1 January 2018, becoming the first two states to implement the new tax which has been agreed in principle by the six-member Gulf Cooperation Council (GCC)

2 Jan 2018

Tax

International Tax

VAT

Tax Planning

Tax | VAT updates: January 2018

Graham Elliott, VAT expert at City & Cambridge Consultancy unpicks anti-avoidance legislation in PGPH VAT case, treatment of barter of goods in Storer case, notice 742A on opting to tax updated  

2 Jan 2018

Tax

VAT

Tax | Zero rating to exemptions – what you need to know about VAT

VAT expert Neil Warren examines the VAT minefield from zero rating to exemptions, to outside the scope, highlighting the complexity of the current VAT rules for businesses and illustrates various VAT treatments using practical examples

28 Dec 2017

Tax

VAT

Tax Compliance

Tax | VAT repayment claims clarified after ruling on investment trust companies

HMRC has published a briefing setting its view following a Supreme Court judgment in the case involving investment trust companies  (ITC), which centred on claims made by final consumers against HMRC for VAT that had been wrongly charged to them by their suppliers

20 Dec 2017

Tax

VAT

HMRC

Tax Compliance

Case Reports

Law and Regulation

Tax | HMRC consults on Making Tax Digital VAT rules

HMRC has issued a seven-week consultation on the rules for VAT reporting under Making Tax Digital, due to come into force from April 2019 for businesses registered for VAT

20 Dec 2017

Tax

Making Tax Digital

VAT

Tax Compliance

Tax Planning

Consultations

Tax | HMRC loses appeal on single farm payment VAT charges

HMRC has lost an appeal at the Court of Session in Scotland over the rights of farmers to reclaim VAT on the purchase of single farm payment entitlements (SFPEs), in a decision which has far-reaching consequences for a range of taxpayers including farmers and the not-for-profit sector

13 Dec 2017

Tax

VAT

HMRC

Case Reports

Tax | Hallam: government anti-VAT fraud proposals have teeth

As the government seeks to curb online VAT fraud after additional measures were announced in the Budget, Nicholas Hallam considers what impact the policy might have

12 Dec 2017

Tax

Business Tax

VAT

HMRC

Tax Compliance

Technology

Budget

Politics

Tax | HMRC issues VAT refund interest guidance post Littlewoods ruling

HMRC has published guidance underlining the ruling that statutory interest in case of refunds for overpaid VAT is all that is required, not compound interest, following the Supreme Court judgment in the case brought by Littlewoods Retail Ltd

12 Dec 2017

Tax

VAT

HMRC

Tax Compliance

Tax Planning

Tax | Guidance on sharing HMRC VAT registration data

HMRC has published guidance for credit reference agencies wanting to apply for VAT registration data for use in making financial assessments, as part of a move to improve access to credit and finance for small businesses and startups

11 Dec 2017

Tax

VAT

HMRC

Tax Compliance

Tax Planning

Tax | Lloyds wins redundancy VAT case

Lloyds Banking Group has won a significant tax case, worth over £5.6m, after the tax tribunal determined that redundancy payments were not subject to VAT. David Wilson, VAT associate director at RSM, examines a case of HMRC refusing to back off

6 Dec 2017

Tax

VAT

HMRC

Tax Planning

Case Reports

Tax | EU calls for a rethink on digital taxation

The EU is calling for a review of the global approach to digital taxation and a rethink on cross-broder tax rules in the era of the digital economy, particularly the use of transfer pricing rules, according to the economic and financial affairs council (ECOFIN)

6 Dec 2017

Tax

International Tax

VAT

Tax | European Commission adopts extended VAT e-commerce rules

The European Commission has formally adopted VAT e-commerce rules which extend the existing ‘one stop shop’ for distance sales and reduce the cost for online businesses of complying with VAT obligations, with the aim of tackling the €5bn (£4.4bn) lost to fraud each year

6 Dec 2017

Tax

Business Tax

VAT

Technology