CIOT calls on government to rewrite unfair VAT rules
The Chartered Institute of Taxation (CIOT) is calling on the government to address unfair tax rules as interest rates on late payments rise.
HMRC late payment interest cut by 0.25%
HMRC has reduced late payment and repayment interest rates following the cut to the base rate.
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.
B2C place of supply of digital services
An ongoing area of risk for both VAT registered and Non-VAT registered businesses is the place of supply of their services, as there are many small differences which can catch suppliers out. For VAT purposes, the place of supply is generally where a business is liable to charge VAT.
Royal Opera House VAT alert
A recent Court of Appeal case concerning the Royal Opera House Foundation has decided that that there was no direct and immediate link between the costs of staging productions and their taxable supplies of catering etc. The production costs were found to be ‘directly and immediately linked’ to ticket sales which are exempt from VAT due to the cultural exemption rules and the VAT costs incurred on them as a consequence was irrecoverable.