Appeal against Prudential VAT group ruling that VAT due if payment made after member leaves UK VAT Group The UK Supreme Court is to permit Prudential to appeal the March 2024 Court of Appeal ruling that VAT is due on payments once a party has
Update: Shadow Chancellor has denied plans to raise VAT if Labour wins upcoming election Following acquisitions last night from the governing Tory party of a VAT rise plan, the opposition Shadow Chancellor, Rachel Reeve, has denied any such increase in the event of Labour winning
HMRC changes scope of VAT due to changes in carbon credit market In the UK, the sale of carbon credits are outside of the scope of VAT as there was no secondary market for onward supply. The UK’s HMRC is changing this from 1 September
VAT and excise law still interpretated in line with EU VAT law HMRC has confirmed that UK VAT and excise legislation should continue to be interrupted as EU law three years after Brexit (UK left the EU VAT union on 1 January 2021). But the
HMRC opens Import One-Stop-Shop portal for e-commerce sales NI to EU The UK’s HMRC has launched 1 March 2024 its own full portal for the EU’s Import One-Stop-Shop IOSS. This enables UK or other non-EU businesses with a UK VAT number to report Northern Ireland
Annual threshold for compulsory VAT registration increases to £90k from £85k The first rise in the UK VAT registration threshold in over eight years was announced today in the UK Budget. The threshold will rise to £90,000 from the current £85,000. This was set in
HMRC research demonstrates wider digitalisation benefits of Making Tax Digital for VAT initiative for micro-businesses The UK’s Making Tax Digital for VAT regime, introduced between 2019 and 2022, has demonstrated wider advantages for taxpayers according to HRMC research. The focus of the report was for
Marketplaces alerted on VAT obligations of Non-established taxable persons (NETP) The UK’s HMRC is working with marketplaces to identify foreign e-commerce traders which have established virtual UK companies in an attempt to avoid VAT registration obligations. It is estimated over 10,000 businesses are being approached
Bolt wins right to only charge VAT only on its margin as Tour Operators Margin Scheme A UK First-tier tribunal case has ruled in favour of deliver service operator, Bolt, over HMRC. The tribunal ruled that these mobile ride-hailing services are passenger transport, commonly provided
