Liquidated Damages: retrospective VAT treatment & corrections

by Berthold Bauer on September 8, 2020

Following EU Tribunal Cases (VAT being a European Tax and largely unaffected by Brexit); HMRC have changed their stance on many forms of compensation payment – and with particular regard to the Construction Industry – how Liquidated Damages are treated.

Berthold BauerLiquidated Damages: retrospective VAT treatment & corrections

Extension to Import and VAT relief

by Berthold Bauer on July 28, 2020

HMRC announced on Friday that the period for which relevant medical supplies, equipment and protective garments brought into the UK free of import duty and VAT has been extended for three months.

Berthold BauerExtension to Import and VAT relief

HMRC will mandate MTD for all businesses from 1st April 2022

by Berthold Bauer on July 21, 2020

HMRC have updated their guidance today to confirm that all businesses, regardless of annual turnover, will be required to register for Making Tax Digital as of 1st April 2022. This will extend to any businesses which have registered voluntarily for VAT.

Berthold BauerHMRC will mandate MTD for all businesses from 1st April 2022

Rumour Mill Friday – UK VAT Rate Cut

by Berthold Bauer on June 19, 2020

Following Germany’s decision to reduce VAT from 19% to 16% in order to boost consumer spending and Rishi Sunak’s contemplation of a similar action here in the UK, what are the chances and the pundit’s opinions?

Berthold BauerRumour Mill Friday – UK VAT Rate Cut

NHS COS deadline extension

by Berthold Bauer on April 7, 2020

HMRC have written to us today to confirm that the NHS will be granted an extension to VAT recovery for VAT incurred in the 2019-20 financial year. 

Berthold BauerNHS COS deadline extension

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

Restitution relief for Disabled Adaptations

by Berthold Bauer on August 30, 2019

HMRC have recently confirmed their stance on ‘lost space’ in relation to the creation of bathrooms using an existing room in a disabled persons home – this was previously known as ‘restitution relief’.

Berthold BauerRestitution relief for Disabled Adaptations