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VAT

Expert commentary and practical guidance from ICAEW related to VAT under the UK tax regime.

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Exclusive

VAT: 50 years young

Stephen Dale reflects on how the past 50 years informs the future for the UK VAT system – the topic of ICAEW Tax Faculty’s conference on 22 May.
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Exclusive

TAXguide 03/22: changes to VAT penalties and interest charges

This TAXguide provides details of the new penalties for late submission and payment of VAT returns, which takes effect for VAT periods starting on or after 1 January 2023.
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Exclusive

MTD and VAT

The first stage of HMRC's Making Tax Digital (MTD) programme focuses on VAT and imposes new requirements keeping on some VAT registered businesses and organisations from April 2019.
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Features and articles

Exclusive A win for business on VAT recovery
  • Article
  • 29 Sep 2023
Ed Saltmarsh explores the consequences of the Hotel La Tour Upper Tribunal case regarding the recovery of VAT incurred on professional fees relating to a sale of shares.
HMRC to ask VAT-registered businesses to prove UK establishment
  • Article
  • 25 Sep 2023
Businesses registered for VAT at a high-volume address will be asked by HMRC to prove they are established in the UK.
HMRC changes central assessment process for late VAT returns
  • Article
  • 12 Sep 2023
Central assessments may no longer be cancelled immediately upon submission of the late return.
Agent authorisation for VAT is changing
  • Article
  • 06 Sep 2023
HMRC will remove the functionality that allows agent authorisations for VAT to be copied across to the agent services account. VAT authorisations already copied across are unaffected. It will still be possible to copy authorisations for MTD ITSA.
Exclusive Would removing the VAT exemption for private schools make VAT simpler?
  • Article
  • 01 Sep 2023
Peter Hughes examines the Labour party’s plans to abolish the VAT exemption for private schools.
Profit4 Evaluation Report
  • Report
  • 25 Aug 2023
  • PDF (813kb)
OGL Software have been developing ERP software solutions for over 30 years and are based in Worcestershire (UK). Profit4 is a business software solution to help stockists, wholesalers and distributors optimise and streamline their business processes via fully integrated accounts, stock management, sales and purchase order processing and trade counter modules. View the full evaluation report.
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Practical guidance

ICAEW's Tax Faculty produces TAXguides to provide practical support on technical areas of tax

Exclusive TAXguide 03/22: changes to VAT penalties and interest charges
  • Technical release
  • 13 Dec 2022
This TAXguide provides details of the new penalties for late submission and payment of VAT returns, which takes effect for VAT periods starting on or after 1 January 2023.
Exclusive TAXguide 20/20 New VAT ecommerce rules in EU from 1 July 2021 – how will they affect UK businesses?
  • Technical release
  • 23 Dec 2020
Major VAT changes are being introduced by the EU on 1 July 2021, just six months after the end of the UK’s transitional deal. Neil Warren provides guidance on the key changes that will take place.
Exclusive TAXguide 18/20: VAT MOSS – what happens following the end of the UK VAT MOSS scheme
  • Technical release
  • 11 Dec 2020
The UK has left the EU, with 31 December 2020 marking the end of the transitional deal that has been in place since 1 February 2020. The EU departure will mean important changes for UK businesses that sell broadcasting, telecommunication and electronic (BTE) services to non-business customers (B2C) inside the EU. Neil Warren provides guidance on the key changes that will take place.
TAXguide: 06/20 Spring Budget 2020
  • Technical release
  • 12 Mar 2020
Rishi Sunak delivered his first Budget of 2020 on 11 March. The Tax Faculty provides its summary of all the key tax announcements in this TAXguide.
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Insurance Premium Tax

ESG for SMEs: insurance premium rise key to change
  • Article
  • 26 Jul 2023
SMEs are slower to adopt ESG risks into their business strategies, but an increase in insurance premiums could give them the nudge they need to take action.
Draft Finance Bill 2022-23: indirect tax measures
  • Article
  • 21 Jul 2022
The draft legislation, released on 20 July, includes numerous pre-announced measures, except for the government’s response on alcohol duty.
Is it time to make VAT simple?
  • Article
  • 30 Mar 2022
It is 50 years since the Budget creating the Finance Act 1972 delivered a new, simple-to-operate tax to the UK. Neil Gaskell looks at why VAT is now due a major overhaul.
Autumn Budget 2021: Duties
  • Helpsheets and support
  • 02 Nov 2021
ICAEW's Tax Faculty provides a summary of the announcements in the 2021 Autumn Budget on duties, covering alcohol duties, excise duties, insurance premium tax, vehicle excise duties, tobacco duty and more.
Duties
ICAEW's Tax Faculty provides a summary of the announcements in the 2021 Autumn Budget on duties, covering alcohol duties, excise duties, insurance premium tax, vehicle excise duties, tobacco duty and more.

Podcasts, webinars and recordings

VAT exemptions for private schools and final CPD update
  • Podcast
  • 08 Sep 2023
In this ICAEW Insights episode, we discuss Labour’s proposals for removing VAT exemptions from private schools, as well as our final CPD update before the new regulations come into force.
VAT at 50, TAM Day and engaging in public practice
  • Podcast
  • 05 May 2023
On the latest ICAEW Insights podcast, we discuss the month’s key developments in accountancy.
Freeport slides
  • Webinar
  • 19 Oct 2022
  • ZIP (5,490kb)
Slides from the Freeport Tax Faculty webinar 19 October 2022.
New E-Commerce VAT regimes in the EU and UK
  • Webinar
  • 09 Jun 2021
From 1 July 2021, the existing Mini One Stop Shop (MOSS) scheme transitions to a new framework. This is the 2021 EU e-commerce VAT package. This webinar will provide an explanation of the new EU -ecommerce VAT regime.
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Markel Tax FAQs

Questions and answers on UK tax issues and trends from the ICAEW Tax and VAT Helpline, a subscription service provided by MarkelTax.

Exclusive VAT registration threshold
  • Helpsheets and support
  • 07 Aug 2023
FAQ about a client with a house clearance business, whose regular trading income is normally below the VAT registration threshold, who wonders whether he can claim VAT exemption if a one-off sale of a find takes his income over the threshold.
Exclusive VAT treatment of competition entry fees
  • Helpsheets and support
  • 06 Jul 2023
FAQ about the VAT liability of the entry fees charged by a company which runs competitions where participants pay to enter and have to answer some questions to get entered in to a draw.
Exclusive VAT treatment of vouchers
  • Helpsheets and support
  • 05 Jun 2023
FAQ on a small bookshop/café business whose owner wants to encourage custom by selling vouchers which can then be redeemed in the shop and café. The owner wants to know how to treat VAT on the sale and redemption of these vouchers.
Exclusive Cash Accounting Scheme
  • Helpsheets and support
  • 05 May 2023
FAQ on whether a decorator client, using the Cash Accounting Scheme, will have to account for VAT on payment for a job that was invoiced for, and completed, before the client registered for VAT.
Terms of use

Markel Tax FAQs are correct at the time of going to press. To check current validity, please call the ICAEW Tax and VAT Helpline.

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Bloomsbury Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Accounting and Tax Service.

Exclusive Busy practitioner
  • eBook
  • 01 Aug 2023
Monthly updates on the UK government's help for businesses during the coronavirus pandemic, plus recent developments in UK tax and a VAT news and cases roundup.
Exclusive The VAT return
  • eBook chapter
  • 01 Aug 2023
This chapter is designed to give a basic guide to the completion of the VAT return.
Exclusive The Flat Rate Scheme for Small Businesses
  • eBook chapter
  • 01 Aug 2023
This chapter covers VAT in relation to the Flat Rate Scheme for Small Businesses.
Exclusive The Flat Rate Farmers' Scheme
  • eBook chapter
  • 01 Aug 2023
This chapter covers VAT in relation to the Flat Rate Farmers' Scheme.

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the Acceptable usage terms.

 

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eBooks

The Library & Information Service provides a collection of eBooks as a benefit of membership. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact library@icaew.com.

Exclusive A guide to the European VAT directives
  • eBook
  • 01 May 2023
Includes an introduction to European VAT (value added tax) 2023 and the integrated text of the VAT Directive and Implementing Regulation.
Exclusive EU VAT compass 2022/2023
  • eBook
  • 30 Aug 2022
Examines the VAT system of the EU.
Exclusive Value added tax 1
  • eBook chapter
  • 01 Aug 2017
A chapter setting out the essential principles of VAT, as set out in the Value Added Tax Act 1994 and subsequent Finance Acts.
Exclusive Value added tax 2
  • eBook chapter
  • 01 Aug 2017
This second chapter on VAT explains how the tax is administered by HMRC, as well as a number of schemes which simplify the VAT system.

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

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Representations

ICAEW REP 091-23 Legislative reform of the Terminal Markets Order
  • Representation
  • 12 Sep 2023
  • PDF (209kb)
A representation dated 12 September 2023 to a consultation published by HM Treasury and HM Revenue & Customs on 18 July 2023.
ICAEW REP 081-23 Tackling umbrella company non-compliance
  • Representation
  • 30 Aug 2023
  • PDF (318kb)
A representation dated 29 August 2023 to a consultation published by HM Treasury, HM Revenue & Customs and Department for Business & Trade on 6 June 2023.
ICAEW REP 065-23 Construction industry scheme reform
  • Representation
  • 10 Jul 2023
  • PDF (250kb)
A representation dated 10 July 2023 to a consultation published by HMRC on 27 April 2023.
ICAEW REP 047-23 VAT energy saving materials relief
  • Representation
  • 31 May 2023
  • PDF (168kb)
A representation dated 30 May 2023 to a consultation published by HM Revenue & Customs on 15 March 2023.
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Useful links

Some resources that we link to may pre-date the latest amendments to the relevant tax regulations. While these links contain useful information, please treat them with appropriate caution.

Declaring goods and paying tax when using a Freeport customs site
  • Website
  • 20 Sep 2021
Guidance for businesses on how to declare goods brought in or removed from a customs site, moved between different customs sites, moved with the same site, and when goods and services can be zero-rated for VAT.
VAT manuals for HMRC staff
  • Website
  • 18 Sep 2019
Access internal VAT guidance from HMRC, prepared for it's staff.
Charities: detailed guidance notes on how the tax system operates
  • Website
  • 13 Mar 2018
HMRC guidance on the direct tax obligations of charities, VAT and reliefs or exemptions available. Sections cover Gift Aid, Payroll Giving, donating land, buildings, shares or securities, claims, and audits.
KPMG Indirect tax rates table
  • Website
  • 13 Feb 2018
Table from KPMG providing data on indirect tax rates around the world with brief accompanying notes. A separate interactive Tax rates tool allows you to compare tax rates by country or region.

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

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Watch a Tax Faculty webinar

Webinars and videos have been designed by the Tax Faculty to provide practical guidance to practitioners on important developments to tax practice and policy.

You can register for Tax Faculty webinars by visiting our events page.
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Information

Some of the content on this web page was provided by the Chartered Accountants’ Trust for Education and Research, a registered charity, which owns the library and operates it for ICAEW.