VAT Archive

The Impact of Brexit on VAT

Article 50 has not been invoked yet, meaning that Britain still remains in the EU. However, we’re already beginning to see the impact of Brexit on VAT, among other things. The pound dropped immediately since the leave vote was announced, and a lot of EU companies with

HMRC’S New Controversial Tax Venture

Taxes, nobody likes them, everybody is required to pay them, and that’s that. However, there are some charges that might be seen as taking the taxing law too far… If you haven’t already got an adult colouring book, there you’re definitely in the minority. Adult colouring books

VAT Increase Avoided by Solar Industry

The UK solar industry has narrowly missed a 400% VAT increase this year. Last June the EU Commission claimed that the 5% cap on VAT for solar energy products was illegal, and breached their EU VAT directive. They advised Her Majesty’s Revenue & Customs on an increase

EU Plan Could Question VAT Exemptions

The EU Executive is planning to hold a review of Value Added Tax (VAT) which may call into question the right of Britain to waive sales duty on medicines, food and children’s clothing. The comment was made by Pierre Moscovici who is the economics commissioner. The plan could

VAT Guide

What actually is VAT? VAT or Value Added Tax is a tax added to goods and services in the UK in an attempt to tax consumption. It forms the third largest source of income for the Government after income tax and National Insurance, and is therefore vital

A New Tax Year: Are You Prepared?

A new tax year commenced on the 6th April and a whole new set of reforms came with it. They can often be rather difficult to understand, particularly if you are one of the lucky few who have to complete a self assessment. The changes range from

Booksellers Voice VAT Concerns Regarding Scottish Referendum

Booksellers north of the border are raising their concerns over VAT in the event that the Scottish referendum should lead to a ‘yes’ vote, which would result in the country’s independence. Suppliers like The Mainstreet Trading Company, Far From the Madding Crowd, The Edinburgh Bookshop and Elgin

Businesses Face Unpaid VAT Bills Thanks To Recession

Many businesses are facing unpaid VAT bills this year thanks to the recession leaving many customer payments outstanding, it was recently reported. Thanks to the 2008 recession, many businesses have been left hanging as customers fail to pay debts owed from service charges and goods. As a