The 2023 Autumn Statement confirmed a number of the rumoured personal and business tax changes, but announcements in the Indirect Tax sphere were limited. Our team highlight some of the main changes and how these will impact our clients.
The Autumn Statement delivered a number of commitments to the sector, including raffirming previously agreed additional funding measures such as digitising the NHS Health Check, as well as additional funding into various NHS-impacting programmes
The 2023 Autumn Statement confirmed a number of the rumored personal and business tax changes, but announcements in the Indirect Tax sphere were limited. Our team highlight some of the main property related changes and how these will impact our clients.
Property Related Changes
The Autumn Statement was a relatively sleepy affair, with few high-profile announcements for the property sector.
With the 2024 Election looming and pundits appearing to forecast a landslide Labour win, the stated intention to add VAT onto private school fees is now something that Bursars and Governors should be taking very seriously.
With the fear of driving parents back into the state sector at the forefront of your minds, just adding 20% on top of term charges will not be a realistic option for most.
Berthold Bauer have a team of VAT experts with experience of providing VAT advice and support to schools, including independent fee paying schools, and can guide you through this uncertainty.
Welcome news as HM Revenue & Customs postpones the introduction of Making Tax Digital for VAT (‘MTD’) for NHS Bodies until April 2025
A recent announcement from HMRC has confirmed a delay to the introduction of MTD until at least April 2025 for bodies using the GIANT (Government Information and NHS Trusts) system to submit VAT returns.
HM Revenue & Customs announce changes to Partial Exemption submissions by NHS Bodies from 1 April 2024 – Is your Trust compliant?
On Monday 9th October 2023, HMRC issued a document titled, “Partial Exemption – NHS Statement of Practice” (SoP), which is applicable to all NHS bodies and in this article we outline the key points, main considerations and actions required in order to remain compliant.
A number of recent high profile VAT tribunal cases have been won by HMRC, who appear to be targeting clinics providing cosmetic procedures, and challenging those applying VAT exemption to these services. Businesses are urged to review the VAT treatment of impacted supplies and satisfy themselves that the VAT liability adopted doesn’t leave them at risk of challenge.
On Wednesday 15th March 2023, the Spring Budget was delivered by Jeremy Hunt, Chancellor of the Exchequer. The Budget covered a number of measures however, we have covered a couple of key VAT updates specific to the NHS and broader healthcare sector below.
On Wednesday 15th March 2023, the Spring Budget was delivered by Jeremy Hunt, Chancellor of the Exchequer. The Budget covered a number of measures which you can find here. We have covered a couple of key VAT updates specific to the buildings and property sector below.