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What the Great Repeal Bill means for Indirect Tax

05 April 2017

The UK Government has already started on the practical steps required for life outside the EU by publishing the ‘Great Repeal Bill’ White Paper which provides some detail on how the UK’s indirect tax system will transition into post-Brexit UK.

VAT reduction for Northern Ireland tourism: is a one-size-fits-all VAT policy still appropriate?

22 March 2017

In a post-Brexit United Kingdom, is a one-size-fits-all VAT policy still appropriate? That is the question posed by the Parliamentary Northern Ireland Affairs Committee as it suggests a reduction in tourism VAT in Northern Ireland, and the devolution and ultimate scrapping of Air Passenger Duty to boost the sector, but what about the knock-on effect to other UK members?

Double VAT blow to City financiers

22 March 2017

As the City finance sector lobbies for post-Brexit tax breaks, a recent VAT tribunal confirms that it will have to carry on paying VAT, in full, on the engagement of temporary staff. This is not the only VAT blow hitting the industry.

Taxing online sales the VAT split payment model

09 March 2017

In its drive to stamp out VAT evasion and avoidance by businesses selling goods to UK consumers via online marketplaces, the government has announced its intention for HMRC to be able to extract VAT directly from transactions at the point of purchase. Whilst there is little doubt that the proposed split-payment mechanism will close VAT loopholes, it may cause some controversy, particularly if it is likely to impact business with a UK supply chain.

VAT – it’s not just about what you do, but how you do it and why
Ian Carpenter

17 February 2017

There are many areas of motor retail that can be subject to VAT risk and failing to apply the right VAT treatment in these situations can lead to assessments for underpaid VAT and the threat of penalties and interest.

The simplification of VAT
Ian Carpenter

14 February 2017

The UK VAT system, which implements the European VAT Directive, is renowned for its complexities and anomalies.

Exchequer’s VAT windfall on commissions for non-EU students

09 February 2017

The latest figures from the Higher Education Statistics Agency highlight an increased number of students from China, Hong Kong, Singapore and Malaysia enrolling at UK universities and further education colleges, leading to a VAT windfall for the Exchequer.

Mind the (VAT) gap

09 February 2017

VAT is a major and growing source of tax revenue in the EU, but a report issued last year highlights that Member States in the European Union are losing billions of euros in VAT revenues because of tax fraud and inadequate tax collection systems.

VAT and pension schemes – where are we now?
Ian Carpenter

07 February 2017

The VAT situation for defined benefit (DB) pension schemes continues to be challenged through the courts, and it is important for scheme sponsors and trustees to stay abreast of the situation to ensure that claims for their schemes are made at the right time.

So it’s half in, and half out, for the customs union then?

17 January 2017

In her speech on Tuesday, the prime minister stated that she did not want a deal that would see the UK as ‘half in and half out’ of the EU. But is seeking to become an ‘associate member’ of the customs union not half in?

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