24 June 2025| CATEGORIES: New VAT policy, Pension fund costs, VAT deduction| TAGS: investment costs, New HMRC rules, pension funds, VAT
Revenue & Customs Brief 4 (2025) provides details of an HMRC policy change to VAT deduction rules in relation to pension fund costs. Investment costs will no longer be viewed as subject to dual use. All associated input tax will now be seen as the employer’s and recoverable by the employer, subject to normal deduction rules.
29 May 2024| CATEGORIES: carbon credits, New VAT policy| TAGS: new VAT rules, Terminal Markets Order, voluntary carbon credits
HMRC have published RCB 7 (2024) on the new VAT treatment of voluntary carbon credits. With effect from 1 September 2024, the sale of these carbon credits will taxable for VAT purposes where the place of supply is in the UK.
18 November 2022| CATEGORIES: New VAT policy, VAT| TAGS: HMRC, New policy
HMRC has published new guidance on determining whether or not an activity is a business activity for VAT purposes. Revenue and Customs Brief (10) 2022 sets out HMRC’s new approach.
