VAT

Tax / Supreme Court flexes powers over interest in Prudential case

In Prudential Assurance Company Ltd v R & C Commrs [2018] BTC 31, the taxpayer sought (among other claims) restitution of an amount calculated as compound, and not simple, interest but the Supreme Court, in its judgment delivered in July 2018, rejected this claim. Mark Cawthron LLB CTA examines the judgment

Tax / 40% of businesses unaware of Making Tax Digital for VAT

Over 40% of businesses about to be affected by Making Tax Digital for VAT are not yet aware of it, despite the April 2019 deadline for its introduction, and 20% have made no preparations, according to research by ICAEW

Tax / HMRC clarifies VAT rules on domestic service charges for landlords

HMRC has published updated guidance for property management companies and others clarifying the VAT exemption for domestic service charges and what to do if it has been wrongly applied

Tax / EU threshold for VAT on digital services from 2019

HMRC has launched a short technical consultation on draft statutory instruments covering changes to the VAT treatment of business to consumer supplies of digital services, which introduce a new €10,000 (£8,894) threshold for total supplies to the EU in a year of sales

Tax / Salary sacrifice schemes: what are VAT implications?

Salary sacrifice schemes, under which employees agree to a reduction in salary in exchange for certain benefits, may have VAT implications for the employer. Sarah Kay, tax writer at Croner-i, looks at whether VAT was owed on salary sacrifice schemes in the recent Pertemps case

Tax / Q&A: VAT recharges versus disbursements

Tony Chamberlain, VAT adviser at Croner Taxwise explains the differences between recharges and disbursements when reclaiming expenses for consulting work via a VAT-registered business

Tax / Malkin: preparing for a no deal Brexit and the impact on tax

Although there is still little detail on the UK’s exit from the EU, the government has published guidance on how to prepare for a no deal scenario. Jane Malkin, European head of tax development at Tax Systems, explains how a no deal Brexit will affect tax and provides tips on steps businesses can take to prepare

Tax / VAT126 guidance for VAT refunds for charities updated

HMRC has issued VAT126 guidance for charities and local authorities on how to claim a VAT refund when the organisation is not registered for VAT

Tax / HMRC updates VAT cash accounting guidance

HMRC has updated its guidance on how the VAT cash accounting scheme works, to provide information on how businesses should account for VAT if they leave the scheme voluntarily, or if their turnover exceeds the ceiling

Tax / VAT updates: September 2018

Graham Elliott, VAT expert at City & Cambridge Consultancy covers the circumstances when chocolate is zero rated, charity fundraising by student union, suppressed evidence over turnover

Tax / VAT claims: HMRC may require additional security

People with a history of poor compliance or in unusual circumstances may be required to give extra security to HMRC when making VAT claims, says Stan Dencher, specialist tax writer at Croner-I

Tax / Q&A: VAT compliance for building work for a disabled customer

Janis Kirkham, VAT advice consultant at Croner Taxwise, considers whether zero rating VAT is applicable to building work for a disabled customer taking into account reliefs in VATA 1994 Schedule 8 Group 12

Tax / Import VAT to be filed quarterly in event of no deal Brexit

If the UK leaves the EU without an agreement in place after 29 March 2019, the government will introduce postponed accounting for import VAT on goods being brought into the UK and UK businesses will no longer be able to use the MOSS portal to pay VAT on sales of digital services, according to one of the many no deal Brexit papers released

Tax / Nunn: confusion around HMRC guidance on Making Tax Digital for VAT

HMRC is giving out mixed messages about compliance with Making Tax Digital for VAT, warns Yvette Nunn, director of Berkeley Associates, after spotting a mistake in guidance released by HMRC in July

Tax / Brexit: the future of VAT and customs

The lack of progress on agreement on a trading model and customs arrangements post-Brexit highlights the inherent differences between current EU trade and the customs rules governing non-EU trade. David McGeachy, partner and national head of VAT at Saffery Champness explains
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