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.
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.
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?
17 March 2016
HMRC introduces plans to tackle online retailer VAT avoidance which risk victimising the innocent, but are such measures required at all?
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.
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’?
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!
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.
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.
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.