VAT – Prompt Payment Discounts

VAT - Prompt Payment Discounts On 22 December 2014 HMRC published Revenue & Customs Brief 49/14: VAT - Prompt Payment Discounts to provide guidance on applying the prompt payment discount rules when they come into effect on 1 April 2015. The guidance in the Revenue & Customs Brief covers: what a supplier has to do, offering two … [Read more...]

Recent Revenue & Customs Briefs published by HMRC – August 2014 (2)

On 28 July 2014 HMRC published Revenue & Customs Brief 29/14: VAT: Amendments to regulations for online filing of VAT returns which follow on from the First-tier Tribunal decisions that found HMRC to be in breach of the ECHR. The change allows HMRC to make a Commissioners' direction approving the use of telephone filing as an alternative method … [Read more...]

Recent Revenue & Customs Briefs published by HMRC – August 2014 (1)

HMRC sharing of non-financial VAT registration data and exporter data On 25 June 2014 HMRC published Revenue & Customs Brief 26/14: HMRC sharing of non-financial VAT registration data and exporter data. HMRC indicate that the purpose of the Revenue & Customs Brief is: HMRC data sharing measures are being taken forward in the Small … [Read more...]

HMRC publishes Revenue & Customs Brief on VAT treatment of Bitcoin

HMRC publishes Revenue & Customs Brief on tax treatment of activities involving Bitcoin and other similar cryptocurrencies On 3 March 2014 HMRC  published Revenue & Customs Brief 9/14: Tax treatment of activities involving Bitcoin and other similar cryptocurrencies setting out its position on the tax treatment of income received from, … [Read more...]

Recently released Revenue & Customs Briefs – March 2014

Recently released Revenue & Customs Briefs - March 2014 The following Revenue & Customs Briefs have been released in the past few weeks by HMRC. These include: Definition of word student for VAT liability of construction VAT on buildings that are dwellings and used for a relevant residential purpose Tour Operators Margin Scheme … [Read more...]

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