VAT

Option to tax and VAT recovery

Nick Skerrett (Simmons & Simmons) examines the background, issues and impact of the much awaited decision on ‘adequate indemnity’.

The OTS has made 23 separate recommendations (8 core and 15 administrative) in its final report on VAT simplification.

The government is consulting until 24 November on draft amending regulations to bring forward the 2018 compliance deadlines for UK operators in the EU Emissions Trading System (EU ETS), to provide clarity during the UK’s withdrawal from the EU.

The government has tabled resolutions for a Customs Bill, the ‘Taxation (Cross-border Trade) Bill’, and has now introduced the Trade Bill to Parliament.

The Taxation (Cross-border Trade) Bill will:

HMRC is seeking views on detailed rules set out in draft regulations for operation of the new fulfilment house due diligence scheme, which the government intends to introduce in April 2018. The second Finance Bill 2017 contains primary legislation for the scheme.

Eleanor Thompson

Matt Parkes

VAT is being introduced in the GCC. Eleanor Thompson and Matt Parkes (Deloitte) assess the changes and challenges ahead.

Martin Voelker

Paul Miller

Paul Miller and Martin Voelker (Ashurst) examine a recent tribunal decision on the economic reality of making supplies in the context of tripartite arrangements and what constitutes third party consideration.

The government’s plans for post-Brexit customs, VAT and excise regimes are set out in a new white paper outlining the approach to legislation in the forthcoming Customs Bill.

From 1 January 2018, HMRC will no longer allow insurers to treat their supplies of non-special investment fund (non-SIF) pension fund management services as exempt from VAT.

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