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As of 1 October 2019, B2B supplies of most building and construction services will no longer require the supplier to charge UK VAT but will be reverse chargeable for the customer (see here for the rules). The application of the law is complex as it applies to services covered by the UK’s “CIS” scheme for…
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Businesses need to be ready for the Making Tax Digital initiative and many need to handle their records digitally from the 1st April. Over 2000 businesses are signing up for MTD each day, but at the beginning of March almost 1.2 million businesses only had one month to go to get signed up and using…
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Provisions to force foreign suppliers of B2C digital downloads to register for and pay local VAT/GST continue to spread to new countries across the world. The latest jurisdiction to introduce this is the Canadian province of Quebec. Foreign suppliers of digital services above a value of CAD 30,000 p.a. will become registrable for Quebec Sales…
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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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