A bill to lay the foundations for a stand-alone, post-Brexit customs regime will help ensure “that goods can move smoothly and safely in and out of the UK, and that everyone pays the right tax,” the government said, a week after a parliamentary committee warned that failure to establish a Brexit-ready system would be catastrophic. … Continue reading UK legislates for stand-alone customs regime and VAT changes
The "abuse of rights" principle against artificial VAT avoidance could be removed retrospectively by the UK’s Brexit bill as currently drafted, and the apparent error illustrates how the bill goes “beyond what seems necessary” to leave the European Union, according to the Chartered Institute of Taxation. “The government has been clear that its intention is … Continue reading Brexit bill ‘unclear in scope and effect,’ UK tax body says
HMRC will review its guidance on a flat-rate scheme for VAT in the light of recent tribunal decisions, after a professional body warned that many business consultants are being overcharged, the department told Tax Analysts. Read more: My news story for Tax Notes (paywall) published by Tax Analysts.