The introduction of the Domestic Reverse Charge (“DRC”) for construction services will be delayed for five months from 1 October 2020 until 1 March 2021 due to the impact of the coronavirus pandemic on the construction sector.
The Government has written to VAT-registered businesses explaining what actions they need to take to prepare for life outside of the European Union.
The distinction between a “van” and a “car” can have significant implications for tax, particularly concerning how they are treated for benefit in kind purposes – a van would generally have a lower benefit in kind charge than a car.
Businesses will be able to account for VAT on goods imports using postponed VAT accounting from 01 January 2021, it has been revealed.
Making Tax Digital (MTD) will be extended to all VAT-registered businesses from April 2022, it has been confirmed.
HM Revenue & Customs (HMRC) has confirmed that self-employed taxpayers due to make a payment on account can automatically defer the payment until 31 January 2021.
HM Revenue & Customs (HMRC) has confirmed that the reduced rate of VAT will apply to admissions to attractions that are not eligible for cultural VAT exemption.
The temporary VAT cut on personal protective equipment (PPE) will be extended until the end of October, it has been announced.
Businesses who deferred VAT liabilities throughout the coronavirus pandemic should now reinstate direct debits as the deferral scheme comes to a close, experts have said.
The VAT reverse charge for the construction sector has been delayed for a further five months amid the coronavirus pandemic, it has been confirmed.