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.
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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.
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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.
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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?
READ MORE HMRC did announce in the most recent budget plans to zero rate e-books and e-newspapers in time for the festive season (1 December 2020)
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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.
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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:
READ MORE HMRC have now provided a more definitive time frame for requiring users of the GIANT system (like the NHS) to join MTD (Making Tax Digital).
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Berthold Bauer VAT Consultants Managing Director Simon Merry was delighted to be asked to speak at the Qandor Property Club’s ‘Founding Forum Workshop’ on 19th September 2019.
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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’.
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