VAT

Removal of ESC 3.29 for charitable buildings

Just over a year ago, HMRC announced that the charitable buildings concession (Extra Statutory Concession 3.29, effectively ignoring for zero rating purposes up to 10 per cent non-qualifying use of a relevant building based on time, floor space or head-count) would be withdrawn on 1 July 2010.

Clarification of VAT rules on buying insurance

A Court of Appeal decision has resulted in changes to and clarification of what constitutes exempt introductory services in connection with a supply of insurance.

VAT rise likely to fuel inflation

The decision to raise the standard rate of VAT from 17.5 per cent to 20 per cent next year will be a significant driver behind a stubborn rate of inflation, the Bank of England has said.

New VAT rules for the treatment of holiday homes

Private individuals building their own new dwellings are able to claim VAT on the goods they buy for the purpose.

VAT increase could be 'detrimental'

As many as one in three firms are worried that the planned increase in VAT could have an adverse effect on their business, a new survey has claimed.

Tax measures will hit consumer budgets

The effects of the emergency Budget will be felt adversely by most households and consumers in the UK, a leading economics group has predicted.

Commons vote confirms VAT rise

Attempts in Parliament to head off the government’s proposed increase in the rate of VAT have been defeated.

Question mark over pre-Budget Report

It is thought that the government may look at removing, if only temporarily, the autumn pre-Budget Report.

Electronic VAT filing date looms

HM Revenue and Customs (HMRC) has reminded businesses of changes to the rules on VAT which mean that many must now file returns and make payments online.

Emergency Budget 2010: mixed reaction to VAT increase

Business groups appear to have accepted the emergency Budget rise in VAT to 20 per cent with a certain resigned stoicism.

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