VAT

Spending cuts and other predictions for the 2009 Budget

When Alistair Darling stands up in the House of Commons on 22 April, he will be delivering his Budget speech against the backdrop of one of the worst post-war recessions, if not the worst.

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VAT cut has 'boosted' spending

Last December’s reduction in VAT from 17.5 per cent to 15 per cent has had a measurable effect on consumer spending, a think tank has claimed.

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Business and personal tax changes introduced

As well as changes to the rules governing employers and businesses, this April's common commencement date also introduces some amendments to the tax system.

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VAT decision will be a 'tax on jobs'

The Recruitment and Employment Confederation (REC) has expressed its dismay at learning that the government intends to go ahead with plans to drop the VAT staff hire concession as from 1 April.

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Apportionment of membership fees cannot be retrospective

Under normal circumstances, the provision of a package of benefits by an organisation, in return for a membership subscription, would take the VAT treatment of the principal benefit, the other benefits being treated as ancillary.

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Changes to VAT appeals

From 1 April 2009, the process for handling VAT disputes is changing.

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Little time left to claim special VAT refunds

Businesses are being reminded that the date by which they can claim a special, one-off refund on past VAT payments is 31 March 2009.

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Chancellor urged to delay date set for VAT increase

The British Retail Consortium (BRC) has said that the planned date for the restoration of the old rate of VAT will come at the worst possible time for businesses.

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Revenue drops unjust enrichment defence on VAT

HM Revenue and Customs (HMRC) has announced that it has readjusted its policy of refusing some claims made by businesses for the repayment of overpaid VAT on the grounds that the repayment would unjustly enrich the firm.

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VAT cut has delivered little 'benefit'

A new poll has revealed that businesses believe the cut in VAT, introduced by the government in an effort to stimulate consumer spending, has done little good.

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