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Many years ago, HM Customs and Excise’s Revenue Duties Divisions found themselves relocated from the South Bank of the Thames to the south bank of the River Irwell.

VAT on deals involving three parties has always been a hotbed of potential problems. It is a classic case of how things can go wrong in the shark infested waters of the nation’s favourite tax.

The new Chancellor, Jeremy Hunt, was appointed on 14 October and the first announcement came on the same day. The government will not be cutting the previously enacted rates of corporation tax.

Older readers will remember the famous catchphrase of the late entertainer Bruce Forsyth with his game show quip that ‘points make prizes.’ As far as the new penalty regime for submitting late VAT

Honeymoon (noun): A holiday or trip taken by a newly married couple. Or any early harmonious period in a relationship, especially the first month.

HMRC’s self-declared ambition is for the UK to become one of the most digitally advanced tax administrations in the world.

1 January 2023 will be a massive date in the VAT calendar. The longstanding and very draconian default surcharge regime will be replaced by a new system to penalise late payments of VAT returns.

The Office of Tax Simplification published its review of simplification (see bit.ly/3AIpTwW) on 18 July – just before Parliament rose for the summer recess.

The tax gap is the estimated difference between the amount of tax that should in theory be paid to HMRC and what is actually paid.

HMRC recently issued Revenue and Customs Brief 10 (2022) (see bit.ly/3BJGVvr), explaining its new interpretation of the legislation about whether an activity is