Budget 2017 and VAT

There was very little of general application, in the Autumn Budget 2017, on VAT. Before the Budget, on 22 November 2017, there were rumours that the Chancellor would lower the VAT registration limit to £20,000 following reports in newspapers that seemed to take elements from the Office of Tax Simplification (OTS) report on simplifying VAT and … [Read more...]

Recently updated VAT Notices – November 2017

Recently updated VAT Notices - November 2017 In the past few weeks HMRC has published updates to ten VAT Notices. Some of the notices only had minor changes made. These are: Notice Change New details 701/22: tools for manufacture of goods for export Update to “Putting things right section” 730: civil penalty … [Read more...]

Fulfilment House Due Diligence Scheme

Fulfilment House Due Diligence Scheme Guidance HMRC has published guidance on the Fulfilment House Due Diligence Scheme. The guidance is based on legislation that is now in draft form. This includes the Finance (No. 2) Bill 2017 that is before Parliament at the moment and a draft statutory legislation. The draft statutory instrument is the … [Read more...]

Is HMRC the Best Place to Get VAT Advice?

Is HMRC the Best Place to Get VAT Advice? Do you think HMRC is the best place to get advice on VAT? HMRC is the government department tasked with making sure VAT registered businesses account for VAT correctly. You would, perhaps, expect HMRC to know the correct VAT treatment of a supply. In a recent First-tier Tribunal decision, one of the … [Read more...]

Where is the place of supply of goods?

Where is the place of supply of goods? I was asked about the VAT treatment of a supply of goods made by a supplier in another EU member state to a UK business customer. The odd thing was that the invoices had VAT at 20% on them. The place of supply of goods is usually where the goods are when they are made available to the customer. This is … [Read more...]

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