VAT

Tax / HMRC urged to act on online VAT fraud by overseas sellers

HMRC has been too slow to address the problems of online VAT fraud by overseas sellers and its estimates of the tax loss are ‘out of date and flawed’ according to a report from the public accounts committee (PAC), which says the current uncertainty over the terms of the UK’s withdrawal from the EU risks making the problems worse

Tax / HMRC issues guidance on VAT electronic payments

HMRC has issued guidance about paying VAT to HMRC electronically, and receiving repayments by Bacs, as well as updates to the land and property, education, and construction VAT manuals

Tax / Plans for ‘frictionless’ VAT and customs regime post-Brexit

The Treasury has published a white paper on plans for the standalone customs, VAT and excise regimes the UK will need once it leaves the EU, and is seeking feedback on the options under consideration, including what it describes as ‘an innovative and untested approach’ mirroring EU arrangements

Tax / CJEU issues ruling on VAT status of Mercedes leasing agreement

The Court of Justice of the European Union (CJEU) has found in favour of Mercedes-Benz Financial Services UK Ltd (MBFS) in a case concerning the VAT treatment of a specific type of car leasing agreement, in a decision which is likely to have significant ramifications for the automotive finance sector

Tax / HMRC addresses updates on real estate VAT forms

HMRC has updated some of its forms on the VAT rules relating to specific activities involving real estate to show new contact details and changes to the address to which forms should be submitted

Tax / Making Tax Digital for VAT: what we know so far

With sketchy information available about the plans for the rollout of Making Tax Digital for VAT, Stephen Relf CTA ACA examines early plans for changes to VAT reporting including qualifying criteria, compliance and thresholds

Tax / European Commission seeks major VAT reform to a single EU-wide system

The European Commission is planning the biggest reform of EU VAT rules in a quarter of a century, introducing a pan-European system which it says will be simpler to use and enable authorities to claw back some of the €150bn (£133bn) of VAT lost each year and tackle cross-border VAT fraud

Tax / VAT updates: October 2017

Graham Elliott, VAT expert at City & Cambridge Consultancy on NT Advisors winning case over TOGC contingency fees, non-returned payment for services, imported finance-related services in Blackrock VAT dispute

Tax / ATT president calls for larger-scale MTD pilots

President of the Association of Taxation Technicians (ATT) Graham Batty has called on HMRC to broaden the scope of its Making Tax Digital pilots, both in terms of number of participants and duration

Tax / Under-declared sales and VAT cook up ban for Chinese restaurant owner

The director of a Chinese takeaway restaurant in Rainhill, near Liverpool, has been disqualified for five years for under-declaring cash sales and VAT

Tax / VAT: keeping to the rules for the flat rate scheme

Stanley Dencher, specialist tax writer at CCH, outlines the conditions for using the flat rate scheme for VAT, considering various First Tier Tribunal decisions on whether the flat rate scheme was applied in the right circumstances and at the correct rate

Tax / Wetherspoons cuts food and drink prices today in protest over VAT

Wetherspoon’s pubs across England, Wales and Northern Ireland will be cutting the price of all food and drink by 7.5% on the 20 September, as part of national tax equality day to promote the benefit of a VAT reduction in the hospitality industry

Tax / VAT regulations for Making Tax Digital available by April 2018

The government has revealed plans to publish and consult on draft VAT regulations for Making Tax Digital with the aim to have the regulations in place by April 2018 to give businesses and software developers at least 12 months to prepare, although no consultation date has been set

Tax / OTS seeks tax professionals

The Office of Tax Simplification (OTS), the statutory body which is an independent office of the Treasury and gives independent advice to the government on simplifying the UK tax system is looking for people to join its team

Tax / Government sets out plans for Making Tax Digital for VAT in Finance Bill (No.2)

The latest draft Finance Bill sets out the framework for VAT reporting under Making Tax Digital, confirming that the rules will not be in place before April 2019 while those who fall below the VAT threshold, currently £85,000, will not have to digitally report 
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