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UK ends private education VAT exemption; advance payments unlikely to work

20 July 2024 in

Government likely to adopt retrospective and fore-stalling legislation to prevent advance payment VAT avoidance The new UK Labour government has confirmed it will introduce legislation to remove the VAT exemption from private education fees. Legislation details are promised for the Autumn Budget (November 2024?), with

UK Labour VAT increase?

30 May 2024 in

Update: Shadow Chancellor has denied plans to raise VAT if Labour wins upcoming election Following acquisitions last night from the governing Tory party of a VAT rise plan, the opposition Shadow Chancellor, Rachel Reeve, has denied any such increase in the event of Labour winning

UK carbon credits subject to VAT Sept 2024

11 May 2024 in

HMRC changes scope of VAT due to changes in carbon credit market In the UK, the sale of carbon credits are outside of the scope of VAT as there was no secondary market for onward supply. The UK’s HMRC is changing this from 1 September

UK Brexit Agri-foods customs controls new delays

21 April 2024 in

Brexit

Scheduled 30 Apr 2024 UK-EU customs checks delayed again The UK government is to delay for a sixth time some meat, dairy and plant product customs EU import checks. These were scheduled to come into effect on 30 April 2024. The checks are part of

UK confirms VAT law retains EU interpretation

18 April 2024 in

VAT and excise law still interpretated in line with EU VAT law HMRC has confirmed that UK VAT and excise legislation should continue to be interrupted as EU law three years after Brexit (UK left the EU VAT union on 1 January 2021). But the

UK launches EU IOSS VAT portal

26 March 2024 in

EU VAT e-commerce package

HMRC opens Import One-Stop-Shop portal for e-commerce sales NI to EU The UK’s HMRC has launched 1 March 2024 its own full portal for the EU’s Import One-Stop-Shop IOSS. This enables UK or other non-EU businesses with a UK VAT number to report Northern Ireland

UK Carbon Border Adjustment Mechanism consultation

22 March 2024 in

Carbons Border Adjustment Mechanism

Treasury seeks views on CBAM levy on imports of carbon intensive goods 2027 On 21 March 2024, the UK Treasury and HMRC have issued a consultation paper on the proposed UK Carbon Border Adjustment Mechanism (CBAM), a levy on certain carbon-heavy goods being imported into

UK raises VAT registration threshold to £90,000

6 March 2024 in

Annual threshold for compulsory VAT registration increases to £90k from £85k The first rise in the UK VAT registration threshold in over eight years was announced today in the UK Budget. The threshold will rise to £90,000 from the current £85,000. This was set in

UK HMRC MTD for VAT benefits small taxpayers

24 February 2024 in

HMRC research demonstrates wider digitalisation benefits of Making Tax Digital for VAT initiative for micro-businesses The UK’s Making Tax Digital for VAT regime, introduced between 2019 and 2022, has demonstrated wider advantages for taxpayers according to HRMC research. The focus of the report was for

UK VAT guide 2024

1 February 2024 in

Country VAT guide

VAT compliance and reporting rules in the UK 2024 Country VAT guides Below is summary of the major rules provided under UK VAT rules (UK VAT Act). Check our country VAT guides for other jurisdictions. Our VAT Calculator & VAT Filer products on a single platform, VAT Calc, are

Tag: UK