Indirect Taxes

 


A live blog of the eighth public bill committee sitting of Finance Bill 2020 (also known as Finance Bill 2019-21), which took place on Tuesday 16 June 2020 from 2.00pm. Clauses 86-98 were passed, covering (among other things) Air Passenger Duty, various environmental taxes, international trade disputes, .HMRC priority on insolvency, phoenixism and the GAAR.

A live blog of the seventh public bill committee sitting of Finance Bill 2020 (also known as Finance Bill 2019-21), which took place on the morning of Tuesday 16 June 2020. The session covered clauses 72 to 85 in Part 3 of the Bill, which covers areas including IHT, Stamp Duty, VAT, alcohol, tobacco and vehicle excise duties.

The Chartered Institute of Taxation (CIOT) welcomes that construction businesses will get an extra five months to prepare for a major change in accounting for VAT, because of the impact of COVID-19.1 Without a delay there was a risk this major tax change risks hitting SMEs the hardest at a time when they need to protect jobs and livelihoods.

The Chartered Institute of Taxation (CIOT) respond to the Treasury Committee inquiry in to the Spring Budget 2020

Businesses that wish to defer VAT return payments must ensure that they cancel their direct debit in good time for VAT returns that are due on Thursday 7 May, warns the Chartered Institute of Taxation (CIOT).

Further directions issued today by the President of the First-tier tax tribunal, Judge Sinfield, to the Tax Chamber and Tribunal users extending, in relation to certain proceedings, the general stay of all proceedings released on 24 March (as amended and released on 26 March).

Please find below a message from HMRC this morning about COVID-19-related deferral of import VAT and customs duty (can defer payment due next week on 15 April). For affected businesses, urgent action needs to be taken as set out below.

The consultation asks for evidence and views on the potential approach to duty-free and tax-free goods arising from the UK’s new relationship with the EU.

This consultation seeks views on areas of the Plastic Packaging Tax.

HMRC has confirmed an extension to the deadline for implementing digital links for MTD for VAT as follows: