VAT

Call for Budget to 'review' flat rate VAT

The government has been urged to look at the issue of flat rate VAT charges in the forthcoming Budget.

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Complicated tax rules 'stifle' business growth

Three out of four small firms would be better placed to develop their businesses if the tax regime were simpler, a new survey has claimed.

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Revenue and Customs briefs from 2007 and 2008 re-issued

On 12 January 2010, HMRC saw fit to re-issue a number of Revenue & Customs Briefs originally issued in 2007 and 2008.

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Changes to VAT payments by post

HM Revenue and Customs (HMRC) has announced that, as from 1 April 2010, all cheque payments by post will be treated as being received on the date when the cleared funds reach HMRC’s bank account.

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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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