VAT is one of the top sources of government revenue and April 1 marks 50 years since its introduction in the UK by Chancellor of the Exchequer Anthony Barber, who dubbed it ‘a simple tax.’
However, for years, VAT has been at the heart of media fury, national debate, and business headaches. Some of the most famous blunders spurred on by the goods and services tax range from pasties to prawn crackers and debate whether tampons should be considered a luxury or necessary item.
- Survey gauges the impact of VAT on UK businesses
- Complexity leads to significant time spent for businesses
- Businesses are turning to technology to combat complexity
- Survey methodology
Source: www.avalara.com
Latest Posts in "United Kingdom"
- Guernsey Seeks Companies to Support New GST Administration, Tender Deadline Approaches
- Navigating UK VAT: Key Considerations and Pitfalls in Exporting Goods
- HMRC’s New VAT Error Correction Rules: Stricter Penalties and Reporting Changes Explained
- UK Supreme Court Confirms VAT on Intragroup Fees for Former VAT Group Members
- Supreme Court Clarifies VAT Grouping and Time of Supply Rules in Prudential Assurance Case
