This month’s VAT review covers HMRC’s revised guidance on the VAT treatment of early termination payments which should be adopted by businesses no later than 1 April 2022. HM Treasury’s response to the call for input on the UK funds regime reveals that HMRC is also shortly to publish a consultation document on the VAT treatment of fund management services albeit disappointingly ruling out zero-rating. There have been a number of AG opinions too. The opinion in GE Aircraft Engine Services Ltd (Case C-607/20) deals with the application of the deemed supply rules on gifts in the context of an employee incentive programme complicated by the interaction of these rules with those on vouchers. Two other opinions in German cases concern the fundamental nature of a VAT group as a separate and independent taxable person from its members. Finally HMRC has published a call for evidence on...
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This month’s VAT review covers HMRC’s revised guidance on the VAT treatment of early termination payments which should be adopted by businesses no later than 1 April 2022. HM Treasury’s response to the call for input on the UK funds regime reveals that HMRC is also shortly to publish a consultation document on the VAT treatment of fund management services albeit disappointingly ruling out zero-rating. There have been a number of AG opinions too. The opinion in GE Aircraft Engine Services Ltd (Case C-607/20) deals with the application of the deemed supply rules on gifts in the context of an employee incentive programme complicated by the interaction of these rules with those on vouchers. Two other opinions in German cases concern the fundamental nature of a VAT group as a separate and independent taxable person from its members. Finally HMRC has published a call for evidence on...
If you are not a subscriber, subscribe now to read this content.
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