VAT news - January 2016

Welcome to our VAT blog area – we talk about the things that are important to our clients and the essential VAT information we think you need to know.
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VAT MOSS Return - BTE Services

Don’t forget your first VAT MOSS Returns

Ryan Bevan 29 January 2016 No comments

  The deadline for the first VAT Mini One Stop Shop (VAT MOSS) returns is fast approaching. Union and non-Union MOSS returns covering the period 1 January 2015 – 31 March 2015 need to be submitted by 20 April 2015. This is a much tighter timescale than businesses have for compiling and submitting their UK…

UK VAT changes

Summary of VAT changes announced in the 2015 UK Budget

Ryan Bevan 24 January 2016 No comments

  Five VAT changes were announced in today’s Budget. 1: Changes to partial exemption calculations for businesses with foreign branches. Supplies made by foreign branches will no longer be taken into account when a partially exempt business calculates the amount of VAT it can recover on overhead costs. This will reduce the amount of VAT…

VAT prompt payment discounts

All set for the new VAT Prompt Payment Discount rules?

Ryan Bevan 17 January 2016 No comments

  New rules on the VAT treatment of prompt payment discounts (PPDs) come into effect on 1 April 2015. The changes are being introduced to ensure protection of the revenue and compliance with EU legislation. Currently businesses offering PPDs are only required to account for VAT on the discounted price regardless of whether or not…

VAT B2C Online Retail sales

Are Non-EU VAT evaders set to increase?

Ryan Bevan 10 January 2016 No comments

  The problem of non-EU traders selling goods to customers in the UK via online marketplaces such as eBay and Amazon without registering for VAT has long been identified as a problem. Whilst based outside the EU they sell goods located in the UK without charging UK VAT thereby undercutting UK businesses by 20%. Though…

Online VAT Return filings

Changes to Electronic VAT Return Filing Legislation

Ryan Bevan 2 January 2016 No comments

  Since 1 April 2012 virtually all VAT registered businesses have been required to submit their UK VAT returns online and pay any VAT due to HMRC electronically. The only exceptions permitted in the legislation were for businesses that were subject to insolvency procedures or businesses run by people who are practicing members of a…