FA 2012 is packed full of new and sometimes controversial VAT measures. Many have been amended from the original Budget proposals, some being watered down after high-profile protests from the sectors affected. Headlines include new interpretations of the definition of hot food, the application of VAT to self-storage facilities and works on listed buildings, and a new reduced rate for some types of holiday caravans. FA 2012 also legislates for the new cost-sharing exemption, the VAT treatment of face-value vouchers, the removal of the VAT registration threshold from non-established businesses, and the introduction of machine games duty.
