VAT

HMRC policy on 'Lennartz' accounting to be amended

A case heard by the ECJ in 2009, Vereniging Noordelijke Land-en Tuinbouw Organisatie v Staatssecretaris van Financien (C-515/07), has shown that up until now, HMRC have allowed a much wider application of ‘Lennartz’ accounting than should be the case under EU law.

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Businesses to get letters about online VAT filing

Businesses that meet the new rules for online VAT filing are being sent letters by HM Revenue and Customs (HMRC) informing them of the changes.

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Raise VAT not national insurance, business group urges

The government should drop plans to raise national insurance contributions and instead should increase the rate of VAT to 18.5 per cent, the British Chambers of Commerce (BCC) has argued.

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Taxpayers advised on new HMRC bank accounts

HM Revenue and Customs (HMRC) has reminded taxpayers of the need to use the tax authority’s new bank accounts.

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Discounts dampen effects of VAT rise

The return to the old rate of VAT on 1 January had little effect on shop prices as businesses sought to offset the extra cost by offering customers discounts.

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Tax date likely to see increase in deferred payment requests

The government’s scheme to help businesses that are struggling to pay their tax bills could see a rise in requests to delay payments as the self-assessment date approaches.

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Some Royal Mail services to be subject to standard rate of VAT

An interesting, albeit minor, change to the treatment of postal services was announced towards the end of 2009, although it has not as yet been implemented.

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New VAT rules could be a burden for some UK firms

A major change to the way that VAT is charged across the EU could impose extra admin costs on UK firms.

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Tax rises 'dampen' consumer optimism

Prospective tax rises and the return of VAT to the old rate of 17.5 per cent may have had an adverse effect on consumer confidence.

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Online shopping receives tax boost

Shoppers in the UK who buy goods on the internet from countries outside the EU can now spend more without being liable to customs duty.

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