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.
8 January 2025| CATEGORIES: Anaesthesia Associates, Medical care, New VAT guidance, Physician Associates, VAT exemption| TAGS: Healthcare exemption, New HMRC rules
HMRC has published new guidance on the VAT treatment of services provided by Anaesthesia Associates (AAs) and Physician Associates (PAs). Regulation for AAs and PAs by the General Medical Council (GMC) came into effect on 13 December 2024. There is a 2 year transition period. VAT exemption will only apply to the AAs and PAs that have joined the register from the date of registration.
1 February 2023| CATEGORIES: VAT penalty regime| TAGS: New HMRC rules
HMRC has introduced a new penalty regime for VAT returns that are submitted late and VAT which is paid late. The way interest is charged has also changed.
12 October 2022| CATEGORIES: New tax rules, VAT, VAT penalty regime| TAGS: New HMRC rules, VAT penalty changes
A new penalty regime for VAT comes into effect for VAT return periods starting on or after 1 January 2023. Businesses should familiarise themselves with the changes to avoid getting caught out by some of the finer detail.
19 January 2022| CATEGORIES: Making Tax Digital| TAGS: Making Tax Digital, New HMRC rules, VAT
Making Tax Digital for VAT (MTDfV) will be extended to all VAT registered businesses with effect from 1 April 2022. HMRC recently issued a reminder for VAT registered businesses to take steps to prepare for MTDfV before it becomes mandatory.
18 January 2022| CATEGORIES: HMRC, VAT penalty regime| TAGS: New HMRC rules, VAT News, VAT penalty changes
The Government has announced a delay to the introduction of the new penalty regime for VAT. The new system had been due to come into effect from 1 April 2022, however, this has been delayed by nine months until 1 January 2023.
9 December 2021| CATEGORIES: EU businesses, VAT refund| TAGS: New HMRC rules, VAT refund
The VAT refund process for EU businesses incurring UK VAT changed from 1 January 2021. The electronic EU refund process can no longer be used. Instead form VAT65A must now be completed and submitted to HMRC.
21 September 2021| CATEGORIES: HMRC, New tax rules, Tax, VAT| TAGS: Large businesses, New HMRC rules, UTT
The government is introducing new rules from 1 April 2022 which require large businesses to notify HMRC when they take an uncertain tax position. The taxes within scope of the requirement to notify are Corporation Tax, Income Tax (when returned in a Partnership or PAYE return), and VAT.
