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Until recently, submission of the Certificate of Status document issued by non EU countries and the supporting cover letter that details any additional company information (such as registered business address) had been accepted by HMRC as sufficient proof of the legitimacy of the company requesting the VAT refund. Over the course of the last few…
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This month, HMRC launched a pilot for its new online VAT service, Making Tax Digital. The Making Tax Digital (MTD) scheme will require digital transactional recording and filing of UK VAT returns from 1st April 2019. From April, Making Tax Digital will mean that around 1 million businesses who are registered for VAT will need…
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Preparation For No Deal Brexit As of the time of writing (5 November) the UK and EU have still not agreed the terms of Britain’s departure from the EU, scheduled for 29 March 2019. The UK has published a paper to assist businesses with the VAT aspects of a “No Deal” Brexit, should no agreement…
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This spring sees more movement in the ongoing international progression toward automated VAT compliance. Three trends are currently of note: 1. SAF-T: Standardised Digital Record Keeping and Audit. SAF-T stands for “Standard Audit File – Tax”. It is a standard set of data file requirements published by the OECD, allowing tax authorities to access data…
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