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Latest Value Added Tax News

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Updated HMRC guidance on plastic packaging tax

HMRC has updated its plastic packaging guidance with more information and examples on what packaging is exempt from the tax. A new section has also been added providing information about deferring payment of the tax or claiming a credit.

12 Oct 2022 00:00 | Published by a Tolley Value Added Tax expert

Updated VAT Notice 708: Buildings and construction

HMRC has updated its VAT Notice 708: Building and construction guidance to include details on the VAT domestic reverse charge.

11 Oct 2022 00:00 | Published by a Tolley Value Added Tax expert

Chancellor brings fiscal statement forward to 31 October

Writing to the Treasury Committee, the Chancellor has announced his intention to deliver his medium-term fiscal plan on 31 October, rather than 23 November.

10 Oct 2022 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 10 October 2022

10 October 2022 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

10 Oct 2022 00:00 | Published by a Tolley Corporation Tax expert

VAT Notice 733: Flat Rate Scheme for small businesses

HMRC has published a new VAT notice 733 on the Flat Rate Scheme for small businesses

07 Oct 2022 00:00 | Published by a Tolley Value Added Tax expert

HMRC publishes new GAAR Advisory Panel opinion on SDLT arrangements

HMRC has published a new GAAR Advisory Panel opinion on Stamp Duty Land Tax arrangements in relation to the sale and purchase of a residential property, involving an alternative finance agreement and a lease agreement.

06 Oct 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

Updated VAT Notice 731: Cash Accounting Scheme

HMRC has updated VAT notice 731 to include information about the VAT domestic reverse charge.

06 Oct 2022 00:00 | Published by a Tolley Value Added Tax expert

HMRC reminder: Making Tax Digital for VAT

HMRC has published a reminder that businesses will no longer be able to use their existing VAT online account to submit VAT returns from 1 November 2022

05 Oct 2022 00:00 | Published by a Tolley Corporation Tax expert

Uncertainty as to timing of Medium-Term Fiscal Plan

The Treasury Committee tweeted that the Chancellor has agreed to bring forward the date of the next fiscal event, originally scheduled to take place on 23 November, to some time in October. However, the Chancellor himself seemed to dispute this, noting in an interview that the Medium-Term Fiscal Plan will take place on 23 November.

04 Oct 2022 00:00 | Published by a Tolley Corporation Tax expert

Updated VAT Notice 700/24: Postage, delivery and direct marketing

HMRC has updated VAT notice 700/24 to clarify that where there is no extra charge for delivery, the full sales price accounts for VAT.

03 Oct 2022 00:00 | Published by a Tolley Value Added Tax expert

Weekly roundup of HMRC manual changes: 3 October 2022

3 October 2022 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.UK

02 Oct 2022 18:30 | Published by a Tolley Corporation Tax expert

HMRC Stakeholder Digest: 28 September 2022

HMRC’s Stakeholder Digest (28 September 2022) provides a round-up of recent news.

30 Sep 2022 00:00 | Published by a Tolley Corporation Tax expert

CC/FS71: Compliance checks: information notices: penalties for facilitating avoidance schemes involving non-resident promoters

HMRC has published a new factsheet CC/FS71 Compliance checks: information notices on penalties for facilitating avoidance schemes involving non-resident promoters.

30 Sep 2022 00:00 | Published by a Tolley Corporation Tax expert

CIOT response: Finance Bill 2022-23 draft legislation

The CIOT has responded to the Finance Bill 2022-23 draft legislation on capital gains tax: transfers of assets between spouses and civil partners in the process of separating; new transfer pricing documentation requirements for UK businesses; and low earners anomaly: pensions relief relating to net pay arrangements.

29 Sep 2022 00:00 | Published by a Tolley Corporation Tax expert

Updated VAT Notice 701/19: Fuel and power

HMRC has updated VAT Notice 701/19 to include information about the VAT reverse charge measures for wholesale gas and electricity, and construction services and more detail about supplies of hydrogen gas.

29 Sep 2022 00:00 | Published by a Tolley Value Added Tax expert

Updated VAT Notice 700/12: How to fill in and submit the VAT Return

HMRC has updated VAT Notice 700/12 to include in 4.6 on ‘reverse charge accounting’ more goods and services where the reverse charge applies, and the VAT return boxes businesses need to complete.

29 Sep 2022 00:00 | Published by a Tolley Value Added Tax expert

HM Treasury response to Bank of England financial stability intervention

HM Treasury has fully indemnified the Bank of England's intervention to restore orderly markets.

29 Sep 2022 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC guidance on Making Tax Digital for VAT

HMRC has updated various guidance on Making Tax digital for VAT.

28 Sep 2022 00:00 | Published by a Tolley Value Added Tax expert

Updated HMRC guidance on uncertain tax treatment

HMRC has updated its guidance on uncertain tax treatment.

28 Sep 2022 00:00 | Published by a Tolley Corporation Tax expert

Updated guidance on goods or services supplied to charities (VAT Notice 701/58)

HMRC has updated various sections in the VAT notice to include additional conventional advertising media, businesses to include in the meaning of ‘general public’ and range of digital advertising situations that qualify for standard and zero rate of VAT.

27 Sep 2022 00:00 | Published by a Tolley Value Added Tax expert

Popular Articles

Research and development expenditure credit (RDEC)

Research and development expenditure credit (RDEC)This guidance note provides information on how research and development expenditure credits (RDEC) are calculated and utilised. The Qualifying expenditure for R&D tax relief guidance note provides information on what expenditure qualifies for

14 Jul 2020 13:24 | Produced by Tolley in association with Will Sweeney Read more Read more

Double tax relief

Double tax reliefWhen income arises in a foreign country to a UK resident company and that income is taxable in that foreign country, the UK may give the company relief for the foreign tax by crediting the foreign tax against the UK tax charged on that income. This might include withholding tax on

14 Jul 2020 11:31 | Produced by Tolley in association with Anne Fairpo Read more Read more

Subsistence expenses

Subsistence expensesIntroductionSubsistence is the amount incurred as a consequence of business travel. Typically it relates to accommodation and meal costs incurred. These amounts are allowed because they are associated with the necessary travel which is not to a permanent workplace. See the Travel

14 Jul 2020 13:43 | Produced by Tolley in association with Philip Rutherford Read more Read more