Search

The basic 1.5% charge

In general terms, clearing is the process of reconciling purchases and sales of financial instruments between a buyer and a purchaser whereby a clearing house (appoi

The Tour Operators’ Margin Scheme (TOMS) which is used by tour operators to calculate how much VAT they owe, is an EU scheme, devised by the European Commission and implemented by each of the Membe

The DASVOIT (disclosure of avoidance schemes for VAT and other indirect taxes) rules came into effect on 1 January 2018, replacing the previous VAT avoidance disclosure rules (VADR), which is now i

Professor Mark Drakeford AM is the Cabinet Secretary for Finance in the Welsh government. On 13 February he announced that the Welsh Assembly would move forward with a vacant land tax proposal.

For many tax advisers, references to VAT and flat-rates remind one of the rules which permit many VAT traders to operate a simplified VAT regime, paying over to HMRC a flat rate of tax and not reco

Following the Wales Act 2014, the Land Transaction Tax and Anti-Avoidance of Devolved Taxes (Wales) Act 2017 received Royal Assent in May 2017.

There was great excitement before Budget day that the Chancellor intended to slash the VAT registration threshold from £85,000 to £26,000.

Presumptions of distortion of competition following ‘NRA’

Notwithstanding the NRA Judgment, HMRC have twice recently – unsuccessfully – cited a presumption of distortion

Introduction

Early in 2017, the CJEU handed down Judgment in National Roads Authority v Revenue Commissioners [C‑344/15] on the significant distortion of competition con

On 7 November 2107, the OTS laid before Parliament its final report on the UK VAT system.  The report was the culmination of a review which has taken twelve months to research and is the produ