UK Ministers intervened on HMRC lan to impose VAT on UK Investment Funds The UK government is considering halting HM Revenue & Customs’ (HMRC) proposal to impose VAT on investment fund management, following strong opposition from City leaders. HMRC had sought to remove a long-standing
UK tax court rules hair loss transplants are not VAT exempt medical treatments First-Tier Tribunal rules hair transplants for androgenetic alopecia are subject to VAT at the 20% standard rate, and may not benefit from the medical treatment exemption. The Tribunal reviewed ten use cases,
UK launches 13 Feb 2025 a 12-week consultation on e-invoicing & digital reporting; Proposal by Nov 2025 A combined UK HMRC and Department for Business & Trade has launched on 13 February a public consultation on standardising or even mandating B2G and B2B e-invoicing. The
HMRC generative Artificial Intelligence chatbot Beta with help on VAT and other tax questions The UK tax authorities, HMRC, are advancing its generative AI chatbot, GOV.UK Chat, to support users in accessing information on business rules and support, including taxation. Initially tested by 1,000 users,
HMRC updates obligations for platform operators with regards their sellers VAT activities The UK’s HMRC is updating use of data from digital platform operators in the UK of their sellers activities. This will come into effect in November 2024. The changes will enable HMRC to
1 January 2027 UK CBAM levy on imports of carbon intensive goods Following a summer consultation, the UK government confirmed the introduction of carbon border adjustment mechanism (CBAM) from January 2027. CBAM will be a levy on certain carbon-heavy goods being imported into the country.
Budget confirms 20% VAT on private education and boarding services from 1 January 2025 Anti-forestalling provisions to prevent advance payment VAT avoidance from 29 July 2024 The new UK Chancellor, Rachel Reeves, has confirmed in her Autumn Budget on 30 October 2024 that the government
2025 no change to EU – Northern Ireland Intrastat thresholds The UK’s HMRC has confirmed that there will be no change to the EU – Northern Ireland (NI) Intrastat reporting threshold. The 2024 current arrivals and dispatches exemption, and delivery terms thresholds will be carried
HMRC publishes good practice in relation to VAT accounting and compliance processes The UK’s HMRC has published on 18 September 2024 a wide ranging Guidelines for Compliance (GfC) set of best practises for VAT controls. GfC’s are a series of summaries of HMRC’s views on
