VAT

The Scottish government has asked the UK to amend Scotland’s block grant funding arrangement in connection with the devolution of air passenger duty (APD), to enable Scotland to maintain its highlands and islands exemption under the new air departure tax without suffering a significant drop in re

Lee Squires

Fiona Bantock

Lee Squires and Fiona Bantock (Hogan Lovells) report the latest VAT developments that matter.

The European Commission has launched its new EU-wide ‘customs decision system’, to be used by traders applying for customs decisions or authorisations which may have an impact in more than one member state.

The VAT gap across the EU decreased by €8.7bn during 2015 to an overall figure of €151.5bn. As a percentage, this represents a narrowing of the gap by 2.1% to 12.7% in 2015. Actual VAT revenues for the year across the EU rose by 5.8%.

Josh Lom

Michael Alliston

Josh Lom and Michael Alliston (Herbert Smith Freehills) review a decision which sheds fresh light on the investment management VAT exemption by considering its application to an innovative digital investment management platform.

While the Good Law Project, led by Jolyon Maugham QC, awaits the outcome of an application for costs protection in its High Court action against Uber over the company’s liability for VAT, Mr Maugham continues to press HMRC over his input tax claim.

Cathya Djanogly

A reasonable excuse for late filing of NRCGT return

Graham Elliott

The derogation for direct selling cannot be applied in a modified way so as to take into account any ‘notional’ input tax, according to a recent AG opinion. Graham Elliott (City & Cambridge Consultancy Ltd) comments.