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
input tax
Advisory Fuel Rates from 1 June 2022
HMRC has updated its advisory fuel rates tables. The new rates apply from 1 June 2022. There are tables for the advisory fuel rates from 1 June 2020 on HMRC’s website. The advisory electricity rate for fully electric cars is still 5 pence per mile. Beware as HMRC has been reviewing its policy on the recovery of input tax on the cost of charging electric cars, which appears … [Read more...] about Advisory Fuel Rates from 1 June 2022
VAT partial exemption and Covid–19
HMRC has announced that it will allow businesses to amend their partial exemption special method if Covid–19 restrictions have affected the recovery of input tax. Under partial exemption rules the apportionment method has to be fair and reasonable. It’s possible a business’s current partial exemption method is no longer fair and reasonable, in which case they can change the … [Read more...] about VAT partial exemption and Covid–19
Advisory Fuel Rates from 1 December 2020
HMRC has updated its advisory fuel rates tables. The new rates apply from 1 December 2020. 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. Indeed, in HMRC’s internal guidance on VAT Input … [Read more...] about Advisory Fuel Rates from 1 December 2020
Revenue and Customs Brief 12/2018: refunds of VAT in the UK for non-EU businesses – updated
Revenue and Customs Brief 12/2018: refunds of VAT in the UK for non-EU businesses HMRC updated Revenue and Customs Brief 12/2018: refunds of VAT in the UK for non-EU businesses on 4 April 2019 to explain changes for verifying claims for VAT refunds by non-EU businesses. In May 2018, HMRC changed its policy on what it would accept as a Certificate of Status. The Certificate … [Read more...] about Revenue and Customs Brief 12/2018: refunds of VAT in the UK for non-EU businesses – updated