HMRC has updated its advisory fuel rates tables. The new rates apply from 1 December 2022. There are tables for the advisory fuel rates from 1 December 2014 on the Advisory Fuel Rates for VAT recovery page on this site. The advisory electricity rate for fully electric cars increases to 8 pence per mile. Beware as HMRC has been reviewing its policy on the recovery of input … [Read more...] about Advisory Fuel Rates from 1 December 2022
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New VAT Penalties
New VAT Penalties At the start of 2023 a new VAT penalty régime will come into effect. The new régime will replace the default surcharge scheme. Late submission of your VAT return This penalty applies to return periods starting after 31 December 2022. Under the new régime a point will be "earned" each time you submit your business's VAT return late.. The length of VAT … [Read more...] about New VAT Penalties
Advisory fuel rates from 1 September 2021
These mileage rates are published by HMRC. The rates in the table below were published for use from 1 September 2021. The rates are reviewed every three months by HMRC. Although HMRC says “These rates only apply to employees using a company car.” it seems reasonable to use them to calculate the VAT recoverable where mileage rates are paid. To calculate the VAT divide the … [Read more...] about Advisory fuel rates from 1 September 2021
Advisory Fuel Rates from 1 March 2021
Advisory Fuel Rates from 1 March 2021 HMRC has updated its advisory fuel rates tables. The new rates apply from 1 March 2021. There are tables for the advisory fuel rates from 1 March 2019. Although HMRC says “These rates only apply to employees using a company car.” it seems reasonable to use them to calculate the VAT recoverable where mileage rates are paid. To calculate … [Read more...] about Advisory Fuel Rates from 1 March 2021
VAT treatment of private pregnancy scans
Following the decision of the First-tier Tribunal in the Window on the Womb (Franchise) and others [2020] UKFTT 201 (TC), HMRC has published Revenue & Customs Brief 17/2020: VAT liability of private sonography services – First-tier Tribunal Decision setting out its revised policy. The First-tier Tribunal found for Windows on the Womb having taken into account the CJEU … [Read more...] about VAT treatment of private pregnancy scans