Displaying 1-30 of 170 results
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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 July 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.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
ICAEW writes to the Financial Secretary to the Treasury
- Feb 2024
- ICAEW
Tax Faculty supplements ICAEW’s Spring Budget 2024 representations by writing to government on HMRC service performance and VAT simplification.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
HMRC changes agent authorisation for VAT
- Feb 2024
- ICAEW
The digital handshake in the agent services account should now be used for almost all agent authorisations for VAT.
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
ICAEW technical round-up: January 2024
- Jan 2024
- ICAEW Insights
This month’s top stories include mandated payrolling employer-provided benefits; information around the abolition of the pensions lifetime allowance; and an explainer on how to calculate NICs for directors.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
HMRC challenges UK VAT status of online traders
- Jan 2024
- ICAEW
HMRC will contact businesses believed to be non-established taxable persons (NETPs) for VAT purposes. The business will then have 30 days to challenge HMRC’s decision.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
HMRC maintains current approach to VAT treatment of fund management
- Dec 2023
- ICAEW
Following a consultation, the government has confirmed it will keep a list-based approach to the VAT exemption for management of funds.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
Energy saving materials relief extended from February 2024
- Dec 2023
- ICAEW
The VAT zero rate will be extended to more energy saving materials. The relief will also be available for installations in certain charity buildings.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
Digital scheme for DIY housebuilder VAT refunds launched
- Dec 2023
- ICAEW
Taxpayers building their own home can now claim back VAT incurred through an online service.
Exclusive
TAX FACULTY
International developments: professional standards in tax and administering VAT
- Dec 2023
- ICAEW
- Taxline
Nick Parker reports on developments shared at a two-day conference in Helsinki, hosted by CFE Tax Advisers Europe.
Exclusive
TAX FACULTY
VAT: the Christmas chocolate conundrum
- Dec 2023
- ICAEW
- Taxline
Ed Saltmarsh examines whether Christmas confectionery should be subject to VAT.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
HMRC contacts agents of businesses in the hot food sector
- Dec 2023
- ICAEW
A letter is being sent to over 500 agents asking them to check whether all sales of clients in the hot food sector are being recognised for VAT, income tax and corporation tax purposes.
Exclusive
CONSTRUCTION AND REAL ESTATE COMMUNITY
Emerging opportunities and pitfalls in real estate tax
- Nov 2023
- Karl Leesi
Guy Richardson and Mark Fielden, from the real estate and construction team at Moore Kingston Smith, recently presented an ICAEW webinar on “Emerging opportunities and current pitfalls in the tax regime for property investment and trading”. In this article we want to accentuate some of the practical tax complexities discussed in the webinar. Subsequently, in light of the Chancellor of the Exchequer’s recent Autumn Statement on 22 November 2023, we want to explore how current tax policy continues to create uncertainty in the real estate and construction sector.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
Autumn Statement: the tax changes that didn’t make the headlines
- Nov 2023
- ICAEW
ICAEW’s Tax Faculty scans the Autumn Statement documents for other tax-related announcements. Various tax measures can be found in the Overview of tax legislation and rates, the Autumn Statement, and updated Tax information and impact notes.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
Extension of VAT zero rates in Autumn Statement
- Nov 2023
- ICAEW
The zero rate of VAT will apply to reusable period underwear and the installation of a wider range of energy saving materials from early 2024.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
DIY housebuilders scheme digitised – and time limit extended
- Nov 2023
- ICAEW
Individuals building their own home can submit their DIY housebuilders VAT refund claim digitally. The time limit for such a claim has also been extended to six months after completion of the build.
Exclusive
TAX FACULTY
How does tax in the UK compare to other countries?
- Nov 2023
- ICAEW
- Taxline
Tax policy will remain in the headlines in the run-up to the next general election. But how does the UK compare internationally on tax and what might the political parties learn from looking to their international counterparts?
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
Extension of VAT second-hand margin scheme in NI
- Nov 2023
- ICAEW
Eligible vehicles purchased in Great Britain and moved to Northern Ireland before 1 May 2023 can now be sold under the margin scheme until 30 April 2024.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
HMRC to remove paper VAT1 form from 13 November
- Nov 2023
- ICAEW
The paper version of the VAT registration application form will only be available to specific taxpayers through the VAT helpline.
Displaying 1-30 of 170 results
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