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This is a page for the tag United Kingdom VAT
UK Tax News | 26.01.2018
HMRC urged to temper new VAT penalties for online retailers ‘ The Chartered Institute of Taxation (CIOT) is calling for amendments to a new government scheme to tackle VAT evasion to safeguard those that make administrative errors, but are not accused of involvement in tax evasion, are not penalised with...
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UK Tax News | 11.01.2018
Lawmakers in the UK reject proposed amendment to Brexit legislation A proposed amendment to Brexit legislation has been voted against by the lawmakers in the UK. This legislation would have replaced a clause seen as ‘ambiguous’ for a clear message that UK courts should temporarily follow rulings from the European...
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UK Tax News | 12.12.2017
The BCC calls for tax cuts Ahead of the British Chancellor’s Autumn Budget in November, the British Chambers of Commerce (BCC) has urged the UK Government to take immediate action to rule out an expected 3.9% increase to business rates (commercial property tax). With 75,000 companies represented by the BCC,...
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UK government guidance for new tax avoidance penalty law
Last month the UK government released guidance involving the new legislation that will introduce penalties for enablers of defeated tax avoidance arrangements. The Finance Bill (No. 2) 2017 legislation – presents a penalty for any person/s who enable the use of abusive tax arrangements that are later defeated. The UK...
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UK – Tax News | 14.11.2017
The UK sets out post-Brexit cross-border tax plans On the 9th October, 2017, the UK Government released a number of ‘white papers’, setting out how it will accomplish its trade and customs policies, containing its customs, value-added tax, and excise regimes, when the UK leaves the European Union (EU). The...
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VAT changes in the United Kingdom
UK postpones tax technology plans George Osborne, the previous Chancellor of the Exchequer announced last year “the death of the tax return”. A new plan named “Making Tax Digital’ and was aimed at automating all UK tax reporting by 2020. All transactions would require to be recorded and reported digitally...
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VAT rises ruled out ahead of UK elections
The current Conservative government and the main opposition Labour party recently ruled out future rises in VAT ahead of June’s election. Since the 10%+ debit from the financial crisis, the UK has enjoyed a decreasing government deficit, but still faces a challenge to balance the books. Since the 2015 elections...
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More than 35,000 micro-businesses drawn into Brexit EU VAT net
It is estimated that 35,755 UK micro-business selling over the internet into Europe face being drawn into the EU VAT net for the first time following Brexit. Cost could reach €216,000pa to meet this new requirement. EU VAT exemption will benefit UK e-Commerce businesses As part of the UK’s membership...
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BREXIT – UK VAT and tax policies
The concerns around Brexit has been dominated by the potential negatives and uncertainties facing the UK economy as it arranges to leave the European Union. This has been compounded in recent weeks but the probability of a ‘hard’ Brexit, with UK companies facing restricted access to the EU’s Single Market,...
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