Insights
Our experts provide their insights on the latest industry developments and share tips on accountancy and business matters.
20 June 2019
Major VAT changes in the construction industry – is your business ready?From 1 October 2019 significant changes are being introduced to the VAT treatment of supplies in the construction industry. A domestic “reverse charge” rule is being introduced and for many businesses this may result in a reduced level of cashflow. Understanding how this might impact your business now will allow you to prepare for the changes.
14 June 2019
HMRC announce immediate change in the VAT treatment of Renewable Energy CertificatesHMRC have announced an immediate change in the VAT treatment of Renewable Energy Certificates (RECs). These changes take effect from 14 June 2019 and any UK VAT registered business which buys or sells RECs is likely to be affected.
23 April 2019
HMRC announce changes in VAT recovery rules for UK importersThese changes will have a big impact on UK toll operators and their overseas customers. Changes to business operating models may be needed to avoid additional costs. Any UK business which pays and recovers import VAT on goods they don’t own could also be affected.
11 April 2019
Brexit update - extension to 31 OctoberThe UK’s ambassador to the EU, Sir Tim Barrow, has today written to Donald Tusk confirming the agreement of the UK Government to the extension of the period under Article 50(3) for Brexit day to 31 October 2019.
03 April 2019
Balhousie Holdings ruling highlights importance of understanding VAT zero-ratingA recent Court of Session decision has highlighted the complexity and risk in the VAT zero-rating rules for many types of communal residential buildings, care homes and charities. Not understanding these rules can lead to substantial VAT costs which can arise many years after the building was completed.
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