Previously, we reported that HMRC reversed its position on early termination fees, announcing on 2 September 2020 that such fees would be subject to VAT and taking the controversial position that this change in policy would be retroactive. In another reversal, HMRC has now announced that the change will apply from a future date only, not retroactively
Source: jdsupra.com
Latest Posts in "United Kingdom"
- VAT Beginner’s Guide: Essential Basics for UK Business Registration and Rates
- When Do You Have to Charge Yourself VAT? Key Situations Explained
- Supreme Court Clarifies VAT Group Rules and Time of Supply Interplay
- Isle of Wight NHS Trust vs HMRC: VAT Exemption Dispute on Locum Medical Practitioners
- HMRC Guidance: How to correct VAT errors and make adjustments or claims (VAT Notice 700/45)
