UK | HMRC to delay the digital links requirement for Making Tax Digital (MTD) until 2021 considering the impact of Covid-19

By |March 31st, 2020|

HMRC have seemingly made an announcement to stakeholders that, due to the impact of Covid-19, they are to delay the requirement for MTD businesses to have in place the digital links between all parts of their software. MTD for VAT has currently been going through a soft-landing phase which allowed [...]

UK | MTD extension deadline approaches for VAT periods starting on 1 April 2020

By |March 25th, 2020|

The HMRC MTD platform extension deadline approaches for VAT periods starting on 1 April 2020. Making Tax Digital for VAT requires UK VAT registered businesses with taxable turnover above the VAT registration threshold to keep records in digital form in addition to filing VAT Returns using software. The deadline applies [...]

UK Budget | Postponed accounting for import VAT after Brexit

By |March 18th, 2020|

The UK Government wheeled back around to confirm Postponed Accounting for Import VAT from January 2021. Previously they announced that the scheme following a hard Brexit. Then they withdrew that simplification following adoption of the Withdrawal Agreement (and entering the transitional period). They now reversed this decision. The new scheme [...]

UK Budget | New legislation for EU’s ‘Quick Fixes’ for call-off stock

By |March 17th, 2020|

The UK Government will introduce legislation relating to call-off stock. These are simplified rules on the VAT treatment of intra-EU movements of call-off stock. The legislation will apply to goods removed from a Member State on or after 1 January 2020. The quick fix for call-off stock allows for a [...]

UK Budget | Government to abolish ‘tampon tax’

By |March 14th, 2020|

The UK Government will abolish the ‘tampon tax’ after Brexit; removing VAT on all sanitary products. The UK ‘tampon tax,’ widely criticised, taxes sanitary products at the standard 20% rate of UK VAT.  This is due to the UK’s VAT legislation aligning with EU VAT laws. As a result, that [...]

UK | Planned border controls from 1 January 2021

By |February 18th, 2020|

Does this affect your business? We can help. Prepare for the new border controls and ensure correct VAT treatment for your transactions with our Supply Chain Review. In a speech to a Border Delivery Group, Michael Gove, the Chancellor of the Duchy of Lancaster, has confirmed that the government are [...]

UK | HMRC remove advance UK VAT registrations for EU businesses

By |February 14th, 2020|

HMRC updated VAT notice 700/1 to remove the advance UK VAT registrations for EU businesses. These rules allowed EU businesses to apply for UK VAT registrations in advance of a no-deal Brexit. As stated in our original story from October 2019, the temporary rules were initially brought in for EU businesses [...]

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