..
The position has been in flux since September 2020, when HMRC made a surprise announcement that it was changing the VAT treatment of early termination payments and other compensation payments made under commercial contracts.
This article considers the background to the changes, while examining the detail of the new rules and how they are expected to impact commercial contracts.
Source: lexology.com
Latest Posts in "United Kingdom"
- UK Consults on Zero-Rating Land for Social Housing—Retiring the “Golden Brick”
- Isle of Man Mirrors UK: 0% VAT on Household Electricity From October
- HMRC Refreshes VAT Notice 700/2: Updated Reply Timescales for VAT Groups
- 0% VAT on Electricity: Britain Switches Off the Tax to Cool Winter Bills
- E-Invoicing Mandate from April 2029
