VAT deferral

by Berthold Bauer on March 24, 2020

The PM announced on Friday a VAT deferral to support UK businesses in this unprecedented time.  The deferral will hopefully help many businesses to stay afloat during this difficult period, but it is worth reminding all businesses that this will not abolish any VAT due, it will simply defer the date it is due for payment and exists to help those in financial difficulty or hardship.  To summarise how this deferral will work in practice:

Berthold BauerVAT deferral

COVID-19 VAT Payments deferred

by Berthold Bauer on March 24, 2020

VAT Payments deferred for three months

HMRC have just announced that for any Return falling within the window 20 March to 30 June, payment can be deferred until the year-end. 

Berthold BauerCOVID-19 VAT Payments deferred

Budget 2020

by Berthold Bauer on March 11, 2020

The 2020 Budget did have some announcements which will affect many of our NHS Clients.  Firstly, the NHS as a whole will be set to receive £6 billion of additional funding across the course of this parliament, and in addition, to support the recent outbreak of coronavirus, an emergency fund of £5 billion is being set-up.  The Chancellor gave assurances that the NHS would get whatever resource it needs at this crucial time – a welcome announcement.

Berthold BauerBudget 2020

Autumn Budget 2018

by Berthold Bauer on October 30, 2018

The Chancellor yesterday afternoon announced the 2018 Autumn Budget, below provides a brief overview of the relevant NHS and VAT related statements:

Berthold BauerAutumn Budget 2018

VAT with no-deal on Brexit

by Berthold Bauer on August 28, 2018

Last week HMRC announced their plans for VAT if the UK ends up leaving the EU in March 2019 without a deal. They have emphasised that the government is confident a deal will be reached, but they are introducing contingency plans as a precautionary measure.

Berthold BauerVAT with no-deal on Brexit

Spring Budget 2017

by Berthold Bauer on March 9, 2017

Unfortunately the Chancellor did not announce any new VAT reliefs or incentives today in his budget; but there were a few relevant announcements:

Berthold BauerSpring Budget 2017

Autumn Statement Update

by Berthold Bauer on November 23, 2016

The update today has announced very little in the way of VAT changes. They reinforced their attitude towards tax avoidance by confirming that a new penalty regime will be introduced for those involved. They also commented that they were specifically focusing on shutting down inappropriate use of the flat rate scheme.

Berthold BauerAutumn Statement Update

EU Referendum Results

by Berthold Bauer on June 24, 2016

The announcement today that the UK has voted to leave the EU is likely have a substantial impact on businesses and indeed UK taxes.

Berthold BauerEU Referendum Results

Reduced Rate on Energy Savings Materials

by Berthold Bauer on April 4, 2016

On 24th March, HMRC released a policy paper confirming that the Prime Minister has secured agreements with other officials at the March European Council to welcome increased flexibility for member states in relation to the zero and reduced rates of VAT. Whilst this was primarily related to the abolition of the ‘tampon tax’ – the increased flexibility could present an opportunity for the UK to reconsider other demands – like the ECJ ruling which suggested that the reduced rate on energy saving materials was in breach of EU laws.

Berthold BauerReduced Rate on Energy Savings Materials

Budget 2016 – Key Points

by Berthold Bauer on March 17, 2016

Budget 2016

The budget announcements often have an impact on the NHS, so we aim to promptly summarise the main impact to your organisations.  This year – the key points are as follows:

Berthold BauerBudget 2016 – Key Points