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Supreme Court protects care home operator from painful VAT bill

13 April 2021

The Supreme Court’s recent decision in Balhousie Holdings indicates that care home operators, charities and universities may be able to use leaseback arrangements to finance certain new buildings without incurring a hefty VAT liability.

Budget boost for automotive manufacturers; but does the UK have scope to grow the electric market?
Richard Bartlett-Rawlings

31 March 2021

After the most challenging year in UK automotive history, perhaps some shoots of recovering are beginning to appear for the industry amidst a significant month on month increase in car production and some positive steps announced in the budget.

Making Tax Digital for VAT: don’t forget digital links

30 March 2021

Since Making Tax Digital was first introduced for some VAT registered businesses in 2019, the digital links aspect of the new rules was misunderstood and regarded as the hardest to implement. The same remains true today, but for many taxpayers 1 April marks the first day of the first VAT return period that must comply with these new rules.

Big setback for charities as European court decides Wellcome Trust must charge itself VAT

22 March 2021

Under current rules, where a VAT-registered business buys in services from outside the UK, it must charge itself UK VAT under the reverse charge procedure. Conversely, those who don’t undertake any economic activities are not liable.

The hidden, and not so hidden, costs of Brexit

16 March 2021

Some disruption to trade arising from the UK's departure from the EU was inevitable. However, as time goes by UK businesses trading with the EU will incur increased costs over a broad category of areas including EU VAT charged on services that were previously received free of local VAT.

New penalty regime for VAT returns in 2022 – good news or bad?

09 March 2021

The government has confirmed in the Budget that the unpopular default surcharge regime for late submission and payment of VAT returns will be replaced next year. Who will be the winners and losers under the new system?

Budget 2021: Extension of lifelines welcome, but VAT deferral will hit hard
Gareth Harris

03 March 2021

Gareth Harris, Restructuring Advisory Partner at RSM, said: ‘The Chancellor’s promise to extend several major lifelines for businesses is welcome news.

HMRC needs to protect honest taxpayers, as well as catch dishonest ones

01 March 2021

A recent tribunal case demonstrates how gig economy workers can end up in tax trouble because they are in structures they do not understand.

Construction Industry VAT: assessing the working capital impact of the domestic reverse charge

23 February 2021

After being pushed back twice, the domestic reverse charge (DRC) for the construction industry is to be introduced on 1 March 2021. Despite the UK returning to lockdown measures, there has been no indication from HMRC that the DRC will be pushed back again.

Where does Uber leave us for VAT?

23 February 2021

Last week’s Supreme Court ruling, that Uber drivers are employees rather than independent contractors, has called Uber's VAT position up for debate.

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