HMRC have recently updated guidance in Notice 703 to clarify what is considered to be satisfactory evidence to zero rate exports. Businesses that export goods should review the guidance to ensure their record keeping meets these standards.
Businesses are once again lobbying the government to re-introduce tax-free shopping for tourists. 90 business leaders have signed a letter to the Chancellor Jeremy Hunt warning of the effects the withdrawal of the scheme in 2021 is having on the UK economy.
The Chancellor of the Exchequer, Jeremy Hunt, presented the Spring Budget to the House of Commons on 15 March 2023. This article looks at the main points of interest from a VAT and Customs perspective. The full set of Spring Budget 2023 documents are available here.