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Trivial benefits

Our first Autumn Statement representation dealt with two aspects of the trivial benefits exemption in the Income Tax (Earnings and Pension) Act 2003 s 323A: revising

Party ‘A’ sells standard rated goods or services to ‘B’. ‘B’ makes a profit and sells to ‘C’. ‘B’ is registered for VAT and ‘A’ is not.

The highly respected Institute for Fiscal Studies recently released a document ‘Tax and public finances: the fundamentals’ (see tinyurl.com/jrycjhy4) highl

The Retained EU Law (Revocation and Reform) Act 2023 received Royal Assent on 29 June 2023.

Two cases recently heard in the First-tier Tribunal have given us an important reminder about VAT and record-keeping: if a business makes any sales or receives income where it does not charge

In February 2021, I wrote a Tax Adviser article, ‘EU withdrawal a half-hearted separation’ (see tinyurl.com/

VAT and property is a nightmare topic for clients and advisers. It is also probably the most important one to get right because of the amount of tax involved in many deals.

HMRC estimated that the number of businesses importing or exporting would rise from 250,000 prior to Brexit to 400,000 afterwards.

Our charity is not registered for VAT but the total income is close to the annual £85,000 threshold. Do charities get special treatment with this threshold?

One of the hot topics in taxation is what we should do to replace fuel duty.