HMRC has published its second estimate of the VAT gap for 2013/14, where the VAT gap is the difference between the amount of VAT that should, in theory, be collected by HMRC, against what is actually collected.
Accountants have experienced a sharp rise in demand for financial advice over the past 12 months, according to new research from Investec Wealth & Investment.
HMRC is seeking views until 15 May 2015 on draft legislation and explanatory notes amending the rules for the tax-advantaged venture capital schemes announced at Budget 2015. The Budget announced a package of changes to the enterprise investment scheme (EIS) and venture capital trusts (VCTs):
The VAT exemption for postal services and private providers
Approved excise warehousing and diverted goods
Was a partnership the recipient of legal services?
Derek Leith and Bob Cardno (EY) review the new support measures
Leslie Allen and Waqar Shah (Mishcon de Reya) examine a recent decision on VAT treatment of contingent discounts and credit notes
Enterprise Nation published a report this week criticising HMRC for its handling and communication of changes to European VAT legislation implemented in January, especially of the mini one-stop shop (MOSS).
The Charity Tax Group (CTG) has expressed its disappointment that HMRC has not published the revised guidance on the VAT rating of charities’ direct mail supplies that HMRC promised would be issued ‘in the new year’.