Key VAT measures in the Budget are: changes to the registration and registration thresholds; new rules on ‘prompt payment discounts’ from 1 May 2014 for supplies of telecoms and broadcasting and from 1 April 2015 for all other supplies; legislation for previously announced ‘place of supply’ changes for B2C supplies of telecoms, broadcasting and e-services, and the ‘mini one-stop shop’; reverse charge VAT accounting for wholesale supplies of gas and electricity to counter potential MTIC frauds; new road fuel scale charges from 1 May 2014; consultation on changes to the zero-rating for cars intended for use by the disabled; and consultation on changes to the rules on disclosure of VAT avoidance schemes.
