Start planning early to deal with the school fees VAT burden
The introduction of VAT on school fees in October’s Budget is one area where there is a good element of certainty, says Rob Geary, VAT specialist at Lovewell Blake.
HMRC launches VAT Registration Estimator
HMRC has launched a digital tool to help businesses estimate what registering for VAT may mean for them.
Interest and partial exemption
Whilst the rise in bank interest is welcome news to some, for others it could have an unexpected VAT implication.
HMRC VAT applications only accepted online
From today (13 November), HMRC will no longer be accepting a paper VAT 1 form for VAT applications and will only be accepting online VAT applications.
Upper Tribunal decision on VAT rates for confectionery
WM Morrisons Supermarkets PLC (Morrisons), recently appealed the first-tier tribunal decision in relation to the VAT treatment of Nakd bars and Organix bars.
VAT registered businesses to move onto HMRC’s new single customs platform before the deadline of 30 September 2022
The first phase comes into effect at the end of September 2022. Businesses importing goods after this time will need to use HMRC’s new single CDS platform to make import declarations. After 31 March 2023 CHIEF will no longer be able to be used for export declarations and these will need to be posted onto CDS from then.
Plastic Packaging Tax to be introduced April 2022 – Initial guidance
The UK Government is introducing a Plastic Packaging Tax (PPT). This is intended to deter the use of single use plastic and move towards recycled plastic. The tax will apply to packaging that does not contain at least 30% recycled plastic.
Take care to avoid the HMRC's Scrooge-like attitude to Christmas generosity
As employers gear up for the Christmas party season for the first time in two years, they need to take care to avoid a tax hangover.