Weekly tax brief | 6 March 2019

Are doublespeak and Brexit fatigue delaying Making Tax Digital?
George Bull
Many in the UK are suffering from Brexit fatigue. Will Brexit happen at the end of March or won’t it? Is general uncertainty about what the end of March might bring affecting business enthusiasm for MTD? And is the language of official statements making it worse, not better?

‘Scammers – you’ve targeted the wrong tax adviser’
Andrew Hubbard
We often advise clients and Weekly Tax Brief readers about the latest tax scams and how to avoid falling foul of them; but recently scammers picked the wrong person to scam – a tax adviser!

Brexit VAT recovery for financial services providers; but is there sufficient scrutiny of Brexit legislation?
David Wilson
New legislation will bring the VAT treatment of supplies of financial services to EU customers into line with the treatment that applies to supplies made to customers in the rest of the world. This will ensure that UK companies compete for business in the EU on an even footing with companies in other non-EU countries. But is there sufficient Parliamentary scrutiny of Brexit legislation?

Could HMRC’s change in VAT treatment of PCP contracts be detrimental to UK car financing arrangements?
David Wilson
The VAT treatment of cars bought under personal contract purchase (PCP) agreements will be determined by the level of the ‘balloon’ payment and whether it accurately reflects the future market value of the vehicle.

Brexit and the impact of VAT
Andy Ilsley
With only a few weeks to go and still no sign of an agreement between the UK and the EU, many tax authorities are gearing up for a no-deal Brexit; but how do middle-market businesses improve their readiness for a no-deal Brexit? 

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