VAT

Tax / Covid-19: HMRC clarifies MTD for VAT deferral reporting

HMRC has issued detailed guidance in updated VAT Notice 700/22 setting out the process for deferring VAT filings by three months under Making Tax Digital

Tax / Covid-19: MTD technical guidance being rewritten for VAT deferral

HMRC is finetuning the technical details for the VAT deferral process for businesses using the Making Tax Digital (MTD) for VAT system with an update to HMRC Technical VAT Notice 700/22 expected shortly

Tax / Covid-19: financial support for Northern Ireland businesses and employers

Businesses in Northern Ireland will be able to access a mix of UK-wide coronavirus support schemes and specific measures announced by the devolved Stormont Assembly to reduce the impact of the covid-19 pandemic

Tax / Covid-19: duties and VAT waived on vital medical imports

The Chancellor has waived import taxes on medical equipment crucial to the fight against coronavirus, in a bid to reduce red tape to ensure equipment gets to frontline health workers faster

Tax / Covid-19: HMRC delays MTD ‘digital links’ Excel deadline

HMRC has deferred by one year the deadline for businesses reporting under Making Tax Digital (MTD) for VAT to meet the requirement to have ‘digital links’ within their recordkeeping for transferring information from Excel spreadsheets and other data sources to their online VAT filing

Tax / Covid-19: EU Tax Authority tracker monitors cross-border VAT changes

As EU governments make rapid changes to VAT reporting and payment schedules in light of the coronavirus pandemic, tax authorities across member states are taking very different approaches, with complex schemes with disparate qualifying criteria, payment deferrals and some taking no action as yet 

Tax / Users of VAT deferral should review direct debits to HMRC

Businesses planning to use the three-month VAT payment deferral need to cancel their direct debits to ensure payments are not automatically deducted

Tax / Covid-19: VAT payments deferred for three months

The government has announced a three-month deferral for VAT payments until end June for all UK businesses with HMRC working all hours to thrash out the detail

Tax / Making Tax Digital serviceability levels too low

HMRC has released a slew of research reports on progress with its flagship Making Tax Digital (MTD) online reporting regime, suggesting that businesses which have fully automated are seeing some benefits, but those with a hybrid approach are finding the transition more challenging

Tax / FTT refuses vegan truffle VAT appeal

The manufacturer of a range of vegan truffle balls has failed in a bid to have the product zero rated for VAT as food, with the First Tier Tribunal (FTT) ruling they are a sweet treat for occasional enjoyment rather than a meal replacement

Tax / Budget 2020: VAT threshold frozen at £85k

The VAT threshold has been held at £85,000 in Budget 2020 with the government committing to its triple lock on VAT rates but has outlined plans for a number of reviews in light of the UK’s departure from the EU

Tax / VAT updates: March 2020

In this month’s VAT updates, Graham Elliott considers charity construction relief in Marlow Rowing Club, HMRC’s reaction to the News Corp decision and the supply of medics in Archus Trading Ltd

Tax / Q&A: VAT and healthy staff perks

In our regular Q&A series from Croner Taxwise, VAT advice consultant, Sally Atkins, looks at the VAT implications of paying for staff gym memberships and subsidised healthy meals 

Tax / Consultation on plans for 10 freeports

The government is consulting on plans to create up to 10 freeports across the UK, with tariff flexibility, customs facilitations and tax measures designed to encourage global trade and attract inward investment post-Brexit

Tax / VAT updates: February 2020

In this month’s VAT updates, Graham Elliott considers digital newspapers in News Corp v HMRC, ongoing DIY housebuilder time limits cases and new regulations relating to call off stocks
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