Category: Updates

Treasury Committee Inquiry into VAT

The Treasury Committee is currently holding an inquiry into VAT. The remit of this inquiry is focusing on three key issues: The tax gap (VAT which is due but not collected) Brexit (Opportunities, concerns and impact) Business (Improving the VAT

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VAT, why printers are missing a trick

What does VAT mean to you?  Very Awkward Tax? Vaguely Ambiguous Tax? There is a tendency for print suppliers to follow the path of least resistance when dealing with how to charge VAT to customers. 20% on everything. This is

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Does the Paragon VAT tribunal change the rules for direct mail?

A recent First Tier Tribunal case which HMRC lost has created a lot of chatter in the industry. The tendency in these situations is for commentators to cherry-pick the snippets that make for a great headline. As is always the

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Register to avoid penalties

Fulfilment House Due Diligence Scheme The term “fulfilment house” may receive some publicity over the coming year. This is because certain fulfilment houses must start registering with HMRC. These are not fulfilment houses which are normally part of the direct

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Agency Agreements – suppliers beware!

In 2015 HMRC provided guidance for businesses who had incorrectly accounted for VAT on supplies of printed matter and postage. These terms were published by HMRC in Revenue and Customs Brief 10 2015. VAT Notice 700/24: postage, delivery charges and

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Update to Notice 701/10

HMRC have published a new version of VAT Notice 701/10: zero-rating of books and other printed matter. If you are unsure about the significance of the changes in the new version then please contact us for further advice.

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Charity Update

HMRC have published a new version of VAT Notice 701/58: charity advertising and goods connected with collecting donations. If you are unsure about the significance of the changes in the new version then please contact us for further advice.

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What does Brexit mean for VAT?

Every member of the European Union (‘EU’) has VAT. It is a condition of membership. After leaving the EU the UK is not bound to have VAT. It could abolish it. If this were to happen the UK would be

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Budget 2016 – Isle of Man charities

The government will legislate to ensure charities subject to the jurisdiction of the High Court of the Isle of Man are capable of qualifying for UK VAT charity reliefs. (Finance Bill 2016).

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Vaguely Ambiguous Tax

Whilst the industry is in the process of aligning itself with HMRC’s published policy in Revenue & Customs Brief 10 2015, (note today’s deadline!), there is another bump in the road. HMRC updated VAT Notice 700/24: postage, delivery charges and

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