Lee Squires and Fiona Bantock provide this month’s update on developments in the VAT arena
Revenue & Customs Brief 09/14 explains that bitcoin is the world’s first decentralised digital currency, known as ‘cryptocurrency’. Bitcoin works via a peer to peer independent network which manages all functions such as issue, transaction processing and verification.
Was a purchase made for business purposes?
Are membership subscriptions of a trade association exempt?
Sarah Halsted provides an updated guide to the VAT standard rates and compliance thresholds across the European Union
Nick McChesney answers a query on VAT on app sales, considering the impact of changes effective from next January
Graham Elliott assesses the impact of the First-tier Tribunal decision in Wakefield College concerning VAT and further education colleges
The EC has adopted two reports on VAT fraud within the EU. The first report looks at VAT collection and control procedures across the member states. It concludes that member states need to modernise their VAT administrations in order to reduce the VAT gap, which was around €193bn in 2011.
Freemasonry and exemption from VAT
Views from tax professionals on some of the points to watch in the draft measures due to be included in this year's Finance Bill.