The standard rate of VAT was reduced from 17.5% to 15% for the 13 month period 1 December 2008 to 31 December 2009. HMRC have confirmed that the standard rate of VAT will revert to 17.5% from 1 January 2010. The government have confirmed that legislation will be introduced to counter schemes which purport to apply the 15% VAT [...]
Monday, April 6, 2009
A package of measures is being introduced to simplify and modernise the VAT system for cross-border trading and to counter fraud across the EU. The measures include: changes to the basic place of supply of services rules changes to the time of supply rules European Sales List (ESL) reporting for supplies of cross-border services a new electronic refund procedure [...]
Thursday, February 26, 2009
Chancellor Alistair Darling will present his Budget speech at 12.30pm on Wednesday 22 April 2009. We will keep you informed of any further developments. Source: HMRC announcement
Monday, December 22, 2008
The Business Payment Support Service, announced in the Pre-Budget Report 2008, is designed to meet the needs of businesses affected by the current economic conditions. Any business that is worried about being able to meet tax, National Insurance or other payments owed to HMRC, or anticipates that payments becoming due will cause them problems, can [...]
Wednesday, October 15, 2008
Chancellor Alistair Darling presented his second Pre-Budget Report on Monday 24 November 2008. As expected Mr Darling concentrated on measures to protect and support businesses and individuals in these ‘extraordinary, challenging times for the global economy’. This summary concentrates on the tax measures which are being introduced. The main tax proposals are: reduction in standard rate of VAT [...]
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Saturday, April 18, 2009
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