The amending directive allowing EU member states to apply reduced or zero rates to electronic publications has been published in the EU official journal and comes into force on 4 December 2018.
HMRC’s latest statistics show the soft drinks industry levy has raised £153.8m since its introduction in April this year.
HMRC has published a final version of the draft Value Added Tax (Section 55A) (Specified Services and Excepted Supplies) Order 2019, introducing a domestic VAT reverse charge for specified business-to-business supplies of construction services from 1 October 2019.
The directive extending the EU temporary reverse charge option and quick reaction mechanism until 30 June 2022 has been published in the EU official journal and enters into force on 2 December 2018.
The European Commission has begun infringement proceedings against the UK, sending a letter of formal notice concerning the Isle of Man’s ‘abusive VAT practices’ with regard to supplies and leasing of aircraft for private use. The UK has two months to respond to the Commission’s points.
The UK VAT Gap grew to £13.3bn in 2017/18, up from £12bn in 2016/17, the latest figures from HMRC show.
HMRC saw its successful tax dispute settlements using alternative dispute resolution (ADR) rise 23% last year, up from 370 in 2016/17 to 455 in 2017/18, according to figures seen by law firm RPC.
Input tax on sale of subsidiary