VAT

Possible VAT rise predicted

A new government may have to give serious consideration to an increase in VAT, it has been forecast.

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What the political parties are promising

With the election looming, the main political parties have outlined what they intend to do on business support and tax.

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Threat of double-dip recession fades

The UK economy seems to have sidestepped the dangers of a double-dip recession but still faces many risks, a new study has claimed.

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Reform the tax system to 'rebalance' the economy

The UK’s tax regime requires a major overhaul if the economy is to be balanced and competitive.

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Rules tightened on payment of large business tax debts

Firms that want to negotiate extra time to pay large tax bills under the business payment support service may have to provide HM Revenue and Customs (HMRC) with more information.

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Increasing VAT could 'hit' the recovery

Pushing up the rate of VAT in order to tackle the budget deficit could have a detrimental impact on the economic recovery, a new study has claimed.

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Temporary easement to freight transport VAT rules

The new place of supply rules introduced on 1 January 2010 has caused difficulties for businesses supplying freight transport services (or closely related services) to other businesses, where they are physically performed outside the EU.

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Chancellor says Budget will not offer a 'giveaway'

Alistair Darling has said that the upcoming Budget won’t be delivering a pre-election giveaway.

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More changes to the VAT option to tax

On 1 June 2008, a new version of VATA 94 Schedule 10, covering the option to tax, was introduced in order to bring more clarity and simplifcation to a set or provisions, which had been widely misunderstood and often abused.

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