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Honest budget signals back to the future on corporation tax and reprieve for hospitality sector, business owners and angel investors
Dan Robertson

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.

Top 10 Brexit-related changes for VAT and customs
Philip Munn

19 February 2021

In recent weeks, businesses have been bombarded with news of Brexit changes for VAT and customs and the (sometimes unintended) consequences for UK/EU trade. RSM’s Top 10 guide will help you cut through the noise.

Spring brings VAT changes for the construction sector and making tax digital
Philip Munn

18 February 2021

Adapting businesses to the challenges of Brexit and lockdown 3.0 have dominated the boardroom agenda. However, the introduction of the VAT domestic reverse charge for the construction industry and making tax digital's digital links in the spring should not be ignored.

Tribunal supports holding company’s VAT recovery on long term project
Philip Munn

16 January 2021

The First-tier Tribunal (FTT) has recently issued its decision in Bluejay Mining plc, we explore this decision as it could be helpful for holding companies that incorporate subsidiaries to build a new business over an extended period.

Brexit, VAT and the Northern Ireland protocol
Philip Munn

20 November 2020

We summarise HMRC's recent guidance on the VAT treatment of the Northern Ireland protocol.

HMRC makes backdated VAT policy change to termination fees
Philip Munn

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.

Coronavirus VAT measures extended
Philip Munn

06 October 2020

The Chancellor’s statement on Thursday 24 September, included a reduced rate for hospitality and leisure sectors and a deferred VAT payment date.

HMRC extends VAT relief for charities to some digital campaigns
Audrey Fearing

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.

Hospitality and leisure: Temporary measures may not be as simple as they seem
Philip Munn

13 August 2020

With new legislation and guidance from HMRC, those in the Hospitality and leisure sectors should now impose careful consideration to maximise VAT benefits without error.

VAT and customs duty as Brexit concludes
Brad Ashton

18 July 2020

The UK government announced last month that it will not be seeking an extension to the current transition period, meaning that barring a significant change in the parties' current negotiating position, the UK will leave the EU’s single market and customs union on 31 December 2020.

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