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VAT


Sarah Gabbai (Weil, Gotshal & Manges) considers some high level UK tax implications for P2P lending, crowdfunding and blockchain.
 
Vinny McCullagh (Grant Thornton) reviews a tribunal’s interpretation of the anti-avoidance provisions of VATA 1994 Sch 10.
 
HMRC has launched a consultation on the UK VAT grouping rules. Siân Beusch and Rachelle Holland (EY) consider the questions posed.
 

The VAT rate for internet access services within Hungary decreased from 27% to 18% on 1 January 2017. The rate for other kinds of telecommunication, broadcasting or electronic services remains 27%. See VAT Information Sheet 3/2017.

Lee Squires and Fiona Bantock (Hogan Lovells) report the latest VAT developments that matter, including recent cases and the European Commission’s strategy on the digital single market.
 

The European Commission has opened three consultations as part of the ongoing work on its action plan on VAT, launched in April 2016. The three consultations are:

HMRC is to introduce regulations to put the existing 'vapour recovery scheme' extra-statutory concession on a statutory footing with effect from 1 April 2017.

The Scottish government has introduced the Air Departure Tax (Scotland) Bill, to replace air passenger duty in Scotland from April 2018.

Graham Elliott (City & Cambridge Consultancy Ltd) comments on the FTT decision in Inspired by Service Ltd.

HMRC has issued Revenue and Customs Brief 17/2016, setting out its policy, effective from 1 April 2017, on the VAT treatment of colouring and dot-to-dot books, many of which are specifically labelled as suitable for children and/or adults.

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