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VATflash

VATflash May 2012

This month's VATflash discusses new legislation for face-value vouchers, VAT issues surrounding charity events and requirements pertaining to planning permission and building works.

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VATflash April 2012

This month’s VATflash provides a warning for late filing penalties and discusses issues surrounding the recovery of your input VAT and any VAT you may have overpaid.
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VATflash March 2012

With March arrived the 2012 Budget and subsequent changes to our VAT system. This VATflash sheds light upon those recent announcements and explores a number of important VAT issues outside of the Budget that could have major impact on you and your business.
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Budget cover

Budget summary 2012

Our summary of George Osborne's 2012 Budget announcement is now available to download.
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VATflash February 2012

This month there are several VAT issues which are polar opposites in nature, ranging from administrative matters to critically important opinions under European law.
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VATflash January 2012

What normally proves to be a quiet month for VAT issues, this January has been anything but.
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VATflash Dec 2011

VATflash December 2011

This month’s VATflash includes updates on legislation, business reminders, Government announcements and other VAT related issues to read during your Christmas festivities.
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VATflash November 2011

This month’s VATflash includes a warning about VAT scams, some updates from the Courts, HMRC’s latest targeting exercises and some Government announcements.
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VATflash October 2011

Welcome to your October VATflash. This month we have provided you with general updates on a range of VAT developments and highlighted key areas where you may encounter problems with HMRC.
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Academies QA

Academy Schools and VAT - FAQ's

There are a number of common questions our clients ask us regarding VAT when considering Academy school status. We have provided answers to some of the most common questions asked.
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VATflash Sept 2011

VATflash September 2011

As always, there have been a number of developments in the VAT world recently. This month’s VATflash covers a range of issues, from the Alternative Dispute Resolution to design and build contracts.
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VATflash August 2011

As always, there have been a number of  developments in the VAT world recently.  This month’s VATflash covers a range of issues, from Tribunal decisions to EU VAT fraud.
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VATflash July 2011

This month’s VATflash covers a range of issues, from Tribunal decisions to HMRC investigations.
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VATflash March 2011

HMRC have announced a five-day scheduled downtime in their online filing systems from the 2 to 6 April.
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VAT

This document outlines how our VAT specialists can help you navigate through the complex web of rules and regulations.
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VATflash Dec 2010

From midnight on 3 January 2011 the rate of VAT will increase from 17.5% to 20% and action is needed now to ensure your accounting systems are ready.
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Buying or selling a business

The buying and selling of a business can be one of the most complex forms of transaction that you will ever carry out and the VAT implications must be given serious consideration in order to prevent a large VAT bill on completion.
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VATflash July 2010

HMRC now consider pay per click services to be zero-rated advertising services when supplied to charities.
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VATflash March 2010

As you will remember from past VAT Updates, it has been the European Commission’s (EC) long term plan to simplify complex EU VAT rules. As of 1st January 2010, several changes to VAT reporting obligations came into force and other changes are due shortly.
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VATflash March 2010 - Invoicing requirements and online filing

The new invoicing requirements have been in force for some time but under a ‘light touch’ regime. This, however, is set to change and the requirements will now be enforced more rigorously following the changes to VAT reporting procedures across the EU.
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Impending Companies Act changes for private companies limited by shares

From 1st October 2009 new model articles will be introduced for private companies limited by shares. This document outlines how the changes could affect your business.
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Coping with the VAT man

If you are, or will soon be, registered for VAT, you can expect regular, routine VAT assurance visits. We explain how to cope with these visits from the VAT man.
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Appeals and Disputes

At one time or another, every VAT registered business is likely to come under the scrutiny of an assessment by HM Revenue & Customs.
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Imports and Exports

The VAT treatment of imports and exports is complicated owing to the fact that the VAT rules are applied to goods moving between different countries.
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International services

If your business supplies a service to customers outside the UK, it will automatically encounter a highly complex area of VAT.
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Understanding partial exemption

Partial exemption has evolved into one of the more complex areas of VAT. Unfortunately, it can be all too easy to significantly overpay or underpay VAT to HM Revenue & Customs.
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Latest news

Almost two thirds of all VAT decisions issued by HMRC found incorrect on review

Almost two thirds (65%) of all penalties and decisions issued by HM Revenue & Customs (HMRC) to taxpayers in relation to VAT matters are subsequently found to be incorrect and are overturned on internal review.
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Gilts lose lustre for private investors

Our research has shown that the value of UK private investors’ holdings of gilts in their ISAs has fallen by 21% to £931 million in the last year from £1.1 billion (from 31 March 2009 to 5 April 2010).

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Over half of all VAT decisions issued by HMRC found incorrect on appeal

Over half (56%) of all penalties and decisions issued by HM Revenue & Customs (HMRC) to taxpayers on technical matters or for late or inaccurate VAT returns which are appealed are subsequently found to be incorrect and are overturned, according to data obtained by UHY Hacker Young.

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Change of VAT rate to 20% - preparing your business for 3 January 2011

From midnight on 3 January 2011 the rate of VAT will increase from 17.5% to 20%. The increased administration for businesses and the problems caused by trading before, after and around the rate change cannot be under-estimated.
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Budget VAT increase could trigger sharp rise in inflation and put the recovery at risk

Increasing VAT from 17.5% to 20% at the Budget on 22 June could trigger a sharp rise in inflation, potentially putting the recovery at risk, says our specialist VAT partner, Simon Newark.
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65% plunge in value of UK private company M&A deals over last year

The value of private (i.e. unlisted) UK companies acquired in the year to end July 2009 has plunged by 65% to just £6.
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Impending Companies Act changes for private companies limited by shares

One of the key aims of the Companies Act 2006 was to modernise and simplify company law and, in particular, to introduce a less regulated regime for private companies. From 1st October 2009 new model articles will be introduced for private companies limited by shares.
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Three to five month delays in VAT registrations leaving new businesses fighting for survival

Start-up businesses are struggling to set up and expand because of delays of between three and five months waiting for VAT numbers, according to UHY Hacker Young, the national accountancy group. HM Revenue & Customs is supposed to complete most VAT registrations within two weeks.
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Businesses have until March 31 to reclaim VAT dating back to 1973

Businesses should revisit VAT returns between 1973 and 1997 and claim for any VAT they are owed by March 31 2009 before the window closes for good and the three-year limit on VAT claims comes into force.
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