VAT news - VAT Updates

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HMRC are consulting on Making Tax Digital

Gareth Bevan 22 September 2017 No comments

HMRC have launched a further consultation on Making Tax Digital (MTD).  They have made available for comment secondary and tertiary legislation on Income Tax and VAT and have also published a document “Making Tax Digital for VAT: legislation overview”. The deadline for all responses and comments is Friday 10 November 2017. Primary legislation                                                                                          The Autumn…

vat avoidance scheme

HMRC issues new VAT avoidance scheme guidance

Gareth Bevan 4 July 2017 No comments

New VAT avoidance scheme guidance HMRC has published new VAT avoidance scheme guidance.  Spotlight 38 covers the subject of VAT: supply splitting tax avoidance schemes. The aim of the Spotlight series is to alert taxpayers to tax avoidance schemes HMRC is aware of and currently investigating.  The intention is to warn businesses against using the…


Most businesses unaware of the new corporate offence of failing to prevent the facilitation of tax evasion

Gareth Bevan 7 June 2017 No comments

New criminal corporate offence against tax evasion to be introduced In the Government’s ongoing crackdown against tax evasion a new corporate offence is to be introduced by September 2017.  The Criminal Finances Act, which received Royal Assent on 27 April 2017, contains legislation for the new corporate offence of failure to prevent facilitation of tax…


New HMRC guidance on VAT recovery for holding companies

Gareth Bevan 27 April 2017 No comments

New holding companies guidance HMRC have now updated their internal guidance on holding companies.  Our earlier blog article outlined some of the recent VAT cases concerning the VAT recovery position of holding companies.  The new guidance brings HMRC policy into line with the decisions in these cases, helping to reduce the uncertainty there has been…

use and enjoyment telecommunications

Use and enjoyment VAT provisions for telecommunication services – Consultation

Gareth Bevan 26 April 2017 No comments

In the Spring Budget 2017 the government announced that it would remove the use and enjoyment VAT provisions for business to consumer (B2C) telecommunication services. This means that UK VAT will now be charged on all telecommunication services used outside the EU by UK consumers. This change will bring the UK rules in line with…


EU seeks opinions on whether transfer pricing adjustments are subject to VAT

Gareth Bevan 19 April 2017 No comments

European Commission transfer pricing working paper The European Commission has issued a working paper asking the VAT Committee to consider whether transfer pricing adjustments carried out for direct tax purposes are within the scope of VAT. The VAT Committee is being asked to examine the potential VAT implications with the aim of providing legal certainty…


Holding Companies – new HMRC VAT guidance expected soon

Gareth Bevan 18 March 2017 No comments

Following a number of recent VAT cases concerning the VAT recovery position of holding companies, we expect HMRC to issue updated guidance in the near future. Holding companies and VAT recovery The extent to which holding companies may recover VAT on costs is a complicated area.  The main issue affecting the ability of holding companies…

Budget 2017

Spring Budget 2017 – VAT Headlines

Gareth Bevan 8 March 2017 No comments

Today Chancellor Philip Hammond presented the last Spring Budget.  Future Budgets will be delivered in the Autumn. The main VAT-related measures announced in the Budget are: VAT Registration and deregistration thresholds From 1 April 2017 the VAT registration threshold will increase from £83,000 to £85,000 and the deregistration threshold from £81,000 to £83,000. VAT Use and enjoyment…


Office of Tax Simplification (OTS) Review of VAT

Gareth Bevan 2 March 2017 No comments

At the 2016 Autumn Statement, the Chancellor of the Exchequer and the Financial Secretary to the Treasury asked the Office of Tax Simplification (OTS) to conduct a review of VAT.  The objective of the review was to see whether the VAT system was fit for purpose in the modern economy and to identify potential areas…


Vouchers and business promotion schemes: Associated Newspapers Limited VAT case analysis

Gareth Bevan 24 February 2017 No comments

Following on from our earlier blog post, in this article we bring you a more in depth analysis of the Court of Appeal decision in the Associated Newspapers Limited (ANL) VAT case on vouchers and business promotion schemes. The decision covers both the output VAT and input VAT consequences of the schemes.  It could have…

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