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VAT

Change back to old VAT rate should be 'delayed'

The government should consider switching the date on which the standard rate of VAT moves from 15 per cent to its former level of 17.5 per cent.

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More tax help for struggling businesses

Businesses that believe they will make a trading loss in the current tax year can ask HM Revenue and Customs (HMRC) to take the anticipated loss into account as part of any rescheduling of their corporation tax or income tax payments.

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Budget 2009: business tax – help for loss-making firms

The Chancellor has extended a scheme aimed at helping loss-making firms ease their cashflow worries by enabling them to reclaim taxes paid on profits during the last three years.

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Spending cuts and other predictions for the 2009 Budget

When Alistair Darling stands up in the House of Commons on 22 April, he will be delivering his Budget speech against the backdrop of one of the worst post-war recessions, if not the worst.

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VAT cut has 'boosted' spending

Last December’s reduction in VAT from 17.5 per cent to 15 per cent has had a measurable effect on consumer spending, a think tank has claimed.

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Business and personal tax changes introduced

As well as changes to the rules governing employers and businesses, this April's common commencement date also introduces some amendments to the tax system.

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VAT decision will be a 'tax on jobs'

The Recruitment and Employment Confederation (REC) has expressed its dismay at learning that the government intends to go ahead with plans to drop the VAT staff hire concession as from 1 April.

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Apportionment of membership fees cannot be retrospective

Under normal circumstances, the provision of a package of benefits by an organisation, in return for a membership subscription, would take the VAT treatment of the principal benefit, the other benefits being treated as ancillary.

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Changes to VAT appeals

From 1 April 2009, the process for handling VAT disputes is changing.

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Little time left to claim special VAT refunds

Businesses are being reminded that the date by which they can claim a special, one-off refund on past VAT payments is 31 March 2009.

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