The UK has published the Finance Act 2022 in the Official Gazette, which received royal assent on 24 February 2022. The Act provides for the implementation of the measures announced as part of the UK Autumn Budget and Spending Review 2021. Some of the main measures of the Finance Act 2022 include the following:
- Measures to reform the UK’s Tonnage Tax regime are introduced from April 2022, which include removing the EU flagging rules so that the regime applies to vessels flying the UK shipping flag and reducing the lock-in period from 10 years to 8 years to align more closely with shipping cycles and to make it easier for shipping companies to participate in the Tonnage Tax regime;
- …
Source Orbitax
Latest Posts in "United Kingdom"
- 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)
- Supreme Court Decision Mandates Prudential to Pay VAT on £9.3 Million Success Fees
- UK Supreme Court Rules on VAT Grouping and Time of Supply in Prudential Case
- High Court Rules in Favor of Hotelbeds UK on Input Tax Recovery Without VAT Invoices
