VAT

HMRC announces harmonised interest rates

HM Revenue and Customs (HMRC) has announced the new interest rates that will be charged for and paid on late and overpaid taxes.

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New VAT filing system due to come into effect

HM Revenue and Customs (HMRC) has reminded businesses that new rules on how VAT returns are submitted and payments are made will be coming into force next year.

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Fall in tax receipts means VAT to rise as planned

There seems no prospect that the cut in VAT will be extended beyond the planned end of the year reversion to the old rate after it was revealed that tax revenues have fallen sharply.

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VAT clarity for DIY housebuilders and converters

HMRC has introduced some changes to the DIY refund scheme with the objectives of bringing clarity and avoiding unnecessary queries.

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Tax plans would help high streets recover

The Chancellor has been urged to drop VAT on energy efficient domestic appliances in a scheme that would mirror the car scrappage programme.

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VAT cut claims disputed

Figures suggesting that not all retailers passed on last December’s cut in VAT have been countered by a leading trade organisation.

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VAT dropped from carbon credits

The government has acted to prevent the risk of fraud by removing VAT from carbon credits.

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Businesses paying back deferred taxes

Businesses that delayed settling their tax bills under a scheme introduced by the government to help those struggling in the economic downturn are paying back the much of the money owed.

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Charities get mobile phone VAT break

Charities are all set to benefit from a tax break on any donation made by text message.

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VAT rise still looks set for end of December

Treasury plans to increase the rate of VAT to 17.5 per cent at the end of the year appear certain to go ahead.

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