03 March 2021
Today, as what he termed ‘honest and fair’ measures to balance the public finances, the Chancellor pledged billions to continue to support businesses and families through the pandemic. He also stressed the importance of encouraging investment, especially in innovation, in order to build the UK’s future economy.
This budget signalled a reprieve for business owners and angel investors with capital gains tax rates and key tax relief left untouched, but there remain concerns.
17 October 2020
In the past, HMRC has accepted that contractually agreed payments due in the event of a breach of contract, and thus amounting to compensation, were typically outside the scope of VAT, because they are not consideration for any supply of goods or services.
18 September 2020
Following recent representations by the Charity Tax Group (CTG), HMRC has agreed to amend its policy on the VAT treatment of online charity advertising. Information on HMRC's new policy was published on 8 September and we suggest that affected advertisers and charities should consider their position carefully.
26 February 2020
Following a tribunal ruling, an independent review and a celebrity led campaign, the Government is under pressure on three sides to end the application of VAT at 20 per cent to digital publications.
Philip is a partner based in the Southampton office responsible for indirect tax, in particular VAT.