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EU plan aims to reduce €50bn VAT fraud

12 April 2016

The EU estimates that, as a result of weaknesses in the current VAT system, cross-border VAT fraud accounts for EUR 50 billion of revenue lost each year. An action plan announced last week sets out how the EU proposes to tackle this and how businesses can play their part.

RSM warns property developers to be vigilant or they could face an unexpected VAT bill
Ian Carpenter

24 March 2016

RSM is warning property developers and construction businesses to be extra vigilant with architectural plans and planning applications when carrying out construction and conversion work, otherwise they could face a hefty VAT bill.

Will VAT hike increase number of uninsured drivers?

23 March 2016

The insurance industry is facing a tough time following an increase in Insurance Premium Tax announced in last week’s Budget, and now a European Court decision could see VAT added to insurance claims. But more importantly, could this move result in an increase in uninsured drivers on the road?

VAT changes for eBay and Amazon sellers

17 March 2016

HMRC introduces plans to tackle online retailer VAT avoidance which risk victimising the innocent, but are such measures required at all?

Holding companies and recovery of VAT - the never ending battle?

10 March 2016

A recent VAT decision by the Upper Tribunal may have some wide-ranging implications for holding companies involved in M&A activity, company acquisitions and management buy-outs.

VAT's all folks?

08 March 2016

Last but not least, will the Chancellor surprise us with any announcements around VAT, or will it be a case of ‘VAT’s all folks’?

HMRC rests its case on Wikipedia

17 February 2016

A Tribunal hearing last week revealed that HMRC relied on a Wikipedia entry to file its Statement of Case regarding the tariff classification of electromagnetic switches. If ever there was a case that highlights the need for the Office of Tax Simplification to review the tax code, it must surely be this!

Holding companies and VAT recovery

09 February 2016

A VAT decision this week by the Upper Tribunal has seen a holding company denied recovery of VAT incurred on its costs. And the decision could also have some wide-ranging implications for holding companies involved in M&A activity, company acquisitions and management buy-outs.

What new changes are expected for the Customs Duty Code?

20 January 2016

The current Customs Code is over 20 years old and a modernised code known as the Union Customs Code (UCC) is being introduced from 1 May 2016.

Temporary workers court denies VAT saving

08 December 2015

In what will come as a major disappointment for organisations unable to recover VAT charged by employment agencies, the VAT tribunal has confirmed HMRC’s position that VAT must be charged on the full amount received by employment agencies, rather than just on the commission received.

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