HMRC have issued a consultation seeking to legislate against “value shifting”. The closing date is 30 March 2021.
Value shifting can potentially occur when a number of items with different VAT liabilities are sold as a single package, requiring the sale price to be apportioned between the VAT rates. While courts have ruled whether specific packages require appointment, they tend not to specify the actual calculation method to use.
Source gov.uk
Latest Posts in "United Kingdom"
- Athena Luxe Ltd FTT Ruling: Validity of Invoices and HMRC Discretion on Input Tax Recovery
- VAT Zero Rating Allowed for Disability Access Card Hired to Users: Nimbus v HMRC
- HMRC Issues New Guidance on VAT Treatment of Overage Payments in Property Sales
- VAT Zero Rating for Access Card: Nimbus v HMRC – Equipment for Disabled Persons Appeal Allowed
- HMRC Launches Initiate Payment API to Streamline Digital Payments and Reduce Compliance Burdens
