Tax / EU to increase VAT rate flexibility and exemptions

The European Commission is proposing to give member states more flexibility to set VAT rates, and is to extend the VAT exemptions that exist for domestic companies to SMEs trading cross-border, in a bid to encourage business growth and compliance

Tax / Withdrawal of VAT concession on sports club affiliation fees

HMRC is reminding taxpayers and sporting organisations that the concession enabling sports clubs to treat affiliation fees as exempt from VAT will be withdrawn with effect from 1 April 2018

Tax / Whiscombe: what's the chance of reforming VAT post-Brexit

VAT is a European construct so post-Brexit any government could have the freedom to reform this hugely complex and irrational VAT rating system, argues David Whiscombe CTA, partner at BKL

Tax / HMRC loses argument over VAT and taxable farming activities in Smart case

In the case of Frank A Smart & Sons Ltd [2017] CSIH 77, the appeal at the Scottish Court of Session focused on whether a farming company could reclaim VAT on the purchase of single farm payment entitlements (SFPEs). Croner Taxwise VAT consultant Julie Green considers the implications of the appeal judgment against HMRC

Tax / Concerns over cashflow impact of post-Brexit VAT regime

MPs and business groups are expressing increasing concern about the impact of Brexit on business cashflow, after it emerged that over 130,000 companies could face paying VAT upfront on goods imported from the EU when or if the UK leaves the customs union in March 2019

Tax / Making Tax Digital for VAT: how will it work

Plans to go ahead with Making Tax Digital for VAT reporting from April 2019 are well under way with the government consulting on final details of the rules for so-called ‘electronic accounts’. Stephen Relf CTA ACA, tax writer at Croner-i, examines the proposals 

Tax / VAT cut on bridge toll to benefit Welsh business

Commuters, drivers and businesses across south Wales and the south west of England are set to make savings as a result of the UK government’s decision to reduce the charges to cross the Severn toll bridges by removing VAT

Tax / EU pushes for 15% minimum VAT rate

The EU is consulting on a draft directive that would make permanent the provision in the EU VAT Directive that requires all member states to levy a minimum standard VAT rate of at least 15%, which is set to lapse from the beginning of this year

Tax / UAE and Saudi Arabia introduce VAT

The United Arab Emirates (UAE) and Saudi Arabia have begun charging VAT on goods and services from 1 January 2018, becoming the first two states to implement the new tax which has been agreed in principle by the six-member Gulf Cooperation Council (GCC)

Tax / VAT updates: January 2018

Graham Elliott, VAT expert at City & Cambridge Consultancy unpicks anti-avoidance legislation in PGPH VAT case, treatment of barter of goods in Storer case, notice 742A on opting to tax updated  

Tax / Zero rating to exemptions – what you need to know about VAT

VAT expert Neil Warren examines the VAT minefield from zero rating to exemptions, to outside the scope, highlighting the complexity of the current VAT rules for businesses and illustrates various VAT treatments using practical examples

Tax / VAT repayment claims clarified after ruling on investment trust companies

HMRC has published a briefing setting its view following a Supreme Court judgment in the case involving investment trust companies  (ITC), which centred on claims made by final consumers against HMRC for VAT that had been wrongly charged to them by their suppliers

Tax / HMRC consults on Making Tax Digital VAT rules

HMRC has issued a seven-week consultation on the rules for VAT reporting under Making Tax Digital, due to come into force from April 2019 for businesses registered for VAT

Tax / HMRC loses appeal on single farm payment VAT charges

HMRC has lost an appeal at the Court of Session in Scotland over the rights of farmers to reclaim VAT on the purchase of single farm payment entitlements (SFPEs), in a decision which has far-reaching consequences for a range of taxpayers including farmers and the not-for-profit sector

Tax / Hallam: government anti-VAT fraud proposals have teeth

As the government seeks to curb online VAT fraud after additional measures were announced in the Budget, Nicholas Hallam considers what impact the policy might have