Sean McGinness (Saffery Champness) explores some of the contractual arrangements entered into by developers where there is more than one party.
The Law Society has published interim guidance on the VAT treatment of electronic searches, following its latest engagement with HMRC on what it sees as ‘inconsistencies’ arising from the decision of the FTT in Brabners LLP [2017] UKFTT 666 (TC).
The EU Parliament’s ECON committee has published a further draft report containing a large group of amendments to the Commission’s proposals for tackling VAT fraud through increased administrative cooperation between national tax authorities and law enforcement bodies.
Martin Shah and Gary Barnett (Simmons & Simmons) provide your monthly review of the VAT developments that matter.
The European Commission has put forward technical amendments to the principal VAT directive, which is a necessary step towards implementation of the measures set out in the its proposal on ‘cornerstones’ of the definitive EU VAT system.
The cost to businesses of the government’s ‘highly streamlined’ customs arrangement after Brexit could be as high as £20bn, HMRC’s chief executive told the Treasury Committee on 23 May. The ‘new customs partnership’ option would have initial costs of around £700m.
HMRC has published a list of signatories to the new cooperation agreement, under which marketplaces will exchange certain information about their sellers in the interests of promoting VAT compliance. The text of the agreement was published in April and current signatories include:
The European Commission has presented a proposal for a recast of two directives governing excise duty on alcohol within the EU.
It seems the definition of what is an establishment is being gradually extended for political purposes, writes Eloise Walker (Pinsent Masons).