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VAT

VAT hike could 'harm' the economy

An increase in VAT to 20 per cent could lead to job losses and could have an adverse impact on the economy, a leading business group has claimed.

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Sports related services – changes to the VAT exemption

Following the ECJ judgment in Canterbury Hockey Club (C-253/07), there will be changes to the exemption for sports related services from 1 September 2010, mainly affecting affiliation fees from governing bodies to member clubs.

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Inflation and VAT concerns make life worse for savers

News that the UK consumer price index rate of inflation made a surprise jump to 3.7 per cent last month will add to the discomfort of the nation’s savers.

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VAT increase may be on the agenda

The plans laid out by the new coalition government could mean a rise in taxes, with VAT a favourite target, experts have warned.

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When cheque payments are 'received' by HMRC

These days, most payments of VAT to HMRC by taxpayers are made electronically but cheque payments are still allowed in certain circumstances, notably by small, already registered businesses with annual VAT-exclusive turnover of less than £100,000, which continue to file paper returns.

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Firms finding it more difficult to defer VAT payments

Increasing numbers of firms are being refused the chance to defer their VAT payments under the Time to Pay scheme.

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Treatment of university trading subsidiaries

HMRC have announced that in most cases where universities set up trading subsidiaries, which themselves provide education, they are acting as if they are a college institution, school or hall of a university.

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