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VAT treatment of vouchers  A summary of responses to HMRC's consultation on VAT and vouchers was published on 6 July 2018. The consultation sought views about proposed new rules for the VAT treatment of vouchers and gift cards. The consultation focussed on how an EU directive, providing for the VAT treatment of vouchers, should be transposed into UK law. Broadly, the EU Vouchers…
HMRC clarify VAT treatment of affiliation fees for sports clubs HMRC recently published a reminder that the concession enabling clubs to treat affiliation fees as exempt from VAT, will be withdrawn with effect from 1 April 2018. A sport's governing body, or similar umbrella organisation, often charges an affiliation fee to individual clubs who make an onward charge to their…
OTS outlines future work plans   The Office of Tax Simplification (OTS) has published a paper outlining its future works programme, identifying areas of interest that the office will be looking at in the next twelve months and beyond. The OTS is currently working on a review of VAT, and expects to publish its report in October or November 2017.…
VAT: zero-rating of adapted motor vehicles Finance Act 2017 introduced legislation designed to end perceived abuse of the VAT relief on substantially and permanently adapted motor vehicles for disabled wheelchair users. The amended rules, which took effect from 1 April 2017, now specify a limit on the number of vehicles within a specified period of time that an individual can…
VAT Flat rate scheme: changes take effect The VAT flat rate scheme (FRS) is used by many small businesses to help simplify their VAT reporting obligations. Businesses could often gain a cash advantage from using the scheme, but this advantage has been significantly curtailed from 1 April 2017, particularly in relation to service-related businesses. Whilst the FRS continues to operate,…
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