Articles in "VAT"

Whilst the rise in bank interest is welcome news to some, for others it could have an unexpected VAT implication.

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.

WM Morrisons Supermarkets PLC (Morrisons), recently appealed the first-tier tribunal decision in relation to the VAT treatment of Nakd bars and Organix bars.

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.

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.

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.

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.

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.