Richard Insole and Judith Lesar (Deloitte) review the Mapfre case, which clarifies the term ‘insurance’ for VAT purposes but raises questions about the treatment of certain warranty contracts.
An Upper Tribunal decision brings some long awaited legal certainty to what is meant by a ‘transfer of a going concern’ (TOGC) for VAT purposes, writes Peter Mason.
Following the Upper Tribunal decision in Colaingrove, Revenue and Customs Brief 12/2015 explains that HMRC accepts that verandas and decking structures sold with static caravans are to be treated as a single supply for VAT purposes.
HMRC has confirmed in Revenue and Customs Brief 12/2015 any changes to take account of the recent finding that the reduced rate in UK for installing energy saving materials violated EU law won’t be implemented before Finance Act 2016.
Hire purchase companies and the attribution of input tax
Abusive arrangements
Deloitte reports that the changes to the VAT regulations would be made to prevent partially exempt businesses from taking account of supplies made by foreign branches when reclaiming input tax in the UK ‘is likely to have been’ postponed, with HMRC reviewing the draft regulations in light of comm
The EC has issued its final report on Implementing the ‘destination principle’ to intra-EU B2B supplies of goods, where the ‘destination principle’ is the taxation of supplies of goods in the member state of destination, as opposed to in the member state of origin.
Place of supply (old rules)
Bitcoin exchange transactions