Interpretation of VAT and excise legislation in light of REUL – HMRC Policy Papers and draft legislation

• HMRC has released policy papers and legislation to clarify the interpretation of VAT and excise law in light of changes made by the Retained EU Law (Revocation and Reform) Act 2023.
• The papers and legislation are relatively short, but UK courts may still consider European case law as persuasive, although not binding.
• The impact on the Exchequer is expected to be negligible. The draft legislation has been published for consultation and will be included in a Finance Bill.
• The consultation period will run for 4 weeks until 17 November 2023.

Source KPMG