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VAT articles

Articles written by experts from ICAEW related to VAT under the UK tax regime.

Displaying 1-30 of 183 results
INSIGHTS VIEWPOINT E-invoicing to be mandatory for EU VAT by 2030
  • Nov 2024
  • ICAEW Insights
Agreement has been reached on a package of digital measures for VAT in the European Union (EU), including the introduction of a real-time digital reporting system through electronic invoicing (e-invoicing).
INSIGHTS VIEWPOINT TECHNICAL ROUND UP Technical round-up: October 2024
  • Oct 2024
  • ICAEW Insights
This month’s top stories feature eight Budget updates covered by ICAEW’s Tax Faculty, a list of software products that are now ready for MTD ITSA, and new VAT guidance for private schools.
INSIGHTS VIEWPOINT The complicated and costly world of VAT
  • Oct 2024
  • ICAEW Insights
Everyone knows UK VAT is complicated and, for taxable persons, costly to comply with. But why is the tax so complex, and why does it often impose onerous compliance costs?
INSIGHTS VIEWPOINT ICAEW helps improve HMRC’s capital allowances guidance
  • Oct 2024
  • ICAEW Insights
Following a meeting at which HMRC set out seven areas of the capital allowances regime where its guidance could be improved, ICAEW has provided written comments on those areas and on the guidance generally.
INSIGHTS VIEWPOINT Panel supports UK re-domiciliation regime
  • Oct 2024
  • ICAEW Insights
The panel set up by the previous government to explore a possible UK re-domiciliation regime has outlined how the regime could work and the tax, accounting and insolvency legislation that may be needed.
INSIGHTS VIEWPOINT New VAT guidance for private schools
  • Oct 2024
  • ICAEW Insights
HMRC has published guidance for private schools on the implications of charging VAT on fees, including if, when and how they must register for VAT.
Exclusive TAX FACULTY Why is VAT complicated and costly?
  • Oct 2024
  • ICAEW
  • Taxline
The UK VAT system imposes a significant compliance burden on businesses. Yige Zu and Richard Krever delve into the root causes of this complexity, and explore potential solutions for a more efficient and less distortionary tax regime.
INSIGHTS VIEWPOINT Progressive VAT: is now the time?
  • Oct 2024
  • ICAEW Insights
Under a progressive tax system, wealthier individuals pay tax at a higher rate than those on lower incomes. Angela Bedi considers the merits of a progressive VAT, and how it could be achieved.
INSIGHTS VIEWPOINT The ups and downs of the VAT registration threshold
  • Sep 2024
  • ICAEW Insights
The VAT registration threshold increased to £90,000 in April 2024, but should it be higher? Or would the UK benefit from a lower threshold?
INSIGHTS VIEWPOINT Delay charging VAT on private school fees, urges ICAEW
  • Sep 2024
  • ICAEW Insights
ICAEW believes that implementing the legislation with effect from 1 January 2025 does not give private schools enough time to prepare.
INSIGHTS VIEWPOINT ECONOMIC UPDATE Economy explainers: private schools and VAT
  • Sep 2024
  • ICAEW Tax Faculty
The Labour government has published draft legislation removing the VAT exemption for private schools from 1 January 2025. ICAEW’s experts outline the changes.
INSIGHTS VIEWPOINT Charity reliefs under the spotlight
  • Aug 2024
  • ICAEW Insights
Is removing the VAT exemption from private school fees and slashing business rates relief for charitable independent schools the thin end of the wedge for the Third Sector?
Exclusive TAX FACULTY VAT registration threshold: higher or lower?
  • Aug 2024
  • Ed Saltmarsh
  • Taxline
Despite a rise in the VAT registration threshold to £90,000 in April 2024, debate continues as to whether it should be increased further or reduced. Ed Saltmarsh sets the scene and invites VAT experts to make the case for change.
INSIGHTS VIEWPOINT ICAEW rejects VAT changes for private hire vehicles
  • Jul 2024
  • ICAEW Insights
ICAEW’s Tax Faculty calls for targeted action to support private hire vehicle (PHV) passengers in its response to the consultation on measures that may be needed following judgements involving Uber.
INSIGHTS VIEWPOINT King’s Speech includes VAT on private school fees
  • Jul 2024
  • ICAEW Insights
The government has confirmed it will remove the VAT exemption for private school fees, and that the Office for Budget Responsibility (OBR) will assess all significant tax measures.
Exclusive TAX FACULTY Starting a business in Italy: the lowdown on the tax implications
  • Jul 2024
  • ICAEW
  • Taxline
Whether sole trader, partnership or company, a key step in starting a business in Italy is choosing the best structure. In his third ‘lowdown’ article, Andrea Matera provides a summary of the main issues, including the benefits of the flat-rate scheme for smaller businesses.
INSIGHTS VIEWPOINT VAT registration details must be changed digitally from August
  • Jul 2024
  • ICAEW Insights
From 5 August 2024, a business wanting to change its VAT registration details must do so using its VAT online account.
Exclusive TAX FACULTY The road ahead for VAT and PHVs
  • May 2024
  • ICAEW
  • Taxline
The government is consulting on options to reform the VAT treatment of private hire vehicles in response to recent cases involving Uber. Ed Saltmarsh examines the case for making a change, and what this could look like.
Exclusive TRAVEL TOURISM AND HOSPITALITY COMMUNITY VAT news
  • May 2024
  • Sue Rathmell
There have been a number of changes in the travel VAT world recently.
INSIGHTS VIEWPOINT TECHNICAL ROUND UP Technical round-up: May 2024
  • May 2024
  • ICAEW Insights
This month’s top stories include a HMRC warning about VAT bank details fraud; an NAO report showing taxpayers have been let down by poor HMRC service; and HMRC rejecting the ‘brightline’ test for furnished holiday lets.
INSIGHTS VIEWPOINT Wanted: ideas to reform UK VAT
  • May 2024
  • ICAEW Insights
ICAEW is seeking research proposals by 31 August 2024 for simplifying the UK’s VAT system, with a £5,000 prize for the winning entrant.
Call for proposals: VAT reform in the UK
  • May 2024
This call for research proposals on VAT reform in the UK is focused on addressing specific challenges within the VAT system. The current complexity of UK VAT, including a myriad of rates and exemptions, not only confuses taxpayers and policymakers, but also creates disproportionate compliance burdens for businesses.
INSIGHTS VIEWPOINT HMRC confirms VAT treatment of voluntary carbon credits
  • May 2024
  • ICAEW Insights
With effect from 1 September 2024, the sale of voluntary carbon credits will be standard-rated where the place of supply is the UK.
INSIGHTS VIEWPOINT HMRC warns of VAT bank details fraud
  • Apr 2024
  • ICAEW Insights
Form VAT 484 has been used in fraudulent attempts to gain access to businesses’ VAT repayments.
INSIGHTS VIEWPOINT Tax administration and maintenance day summary
  • Apr 2024
  • ICAEW Insights
A new consultation on the VAT treatment of private hire vehicles was among a number of announcements made on tax administration and maintenance (TAM) day.
Exclusive TAX FACULTY Ways to tackle tax threshold unfairness
  • Apr 2024
  • Patricia Mock and Sally Campbell
  • Taxline
Patricia Mock and Sally Campbell, co-authors with Bill Dodwell of a recent Tax Law Review Committee discussion paper, consider a range of principles to help inform future tax policy.
INSIGHTS VIEWPOINT HMRC’s VAT online service for agents to be decommissioned
  • Mar 2024
  • ICAEW Insights
Agents should use their agent services account to manage the VAT affairs of all clients going forward.
INSIGHTS VIEWPOINT VAT registration threshold to increase
  • Mar 2024
  • ICAEW Insights
Among the indirect tax Budget announcements is the increase to the VAT registration threshold from 1 April 2024. A new duty on vaping products will also be introduced as well as changes to airport passenger duty and landfill tax rates.
Exclusive TAX FACULTY A lightning bolt for the VAT Tour Operators Margin Scheme
  • Feb 2024
  • ICAEW
  • Taxline
In the case of Bolt Services UK Limited, the First-tier Tribunal found that mobile ride hailing services fall within the Tour Operators Margin Scheme (TOMS). Ed Saltmarsh considers the implications of the decision for the industry and for the fate of TOMS itself.
FACULTIES ONLINE TAX FACULTY TAX NEWS VAT import one stop shop for Northern Ireland
  • Feb 2024
  • ICAEW
Businesses in Northern Ireland can now register for the scheme to account for VAT on goods sold to consumers in the EU or Northern Ireland.
Displaying 1-30 of 183 results
Looking up the front of the Bank of England towards a blue sky.
Thought leadership

How to fix VAT

  • Hub page
  • 18 Nov 2024
ICAEW explores the challenges and opportunities offered in reimagining VAT and it's application. Read about the history of VAT, the lessons that can be learned from outside the UK and the potential of digitalisation.
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