- The VAT registration threshold remains unchanged, contrary to expectations.
- Immediate removal of restrictions on including overseas establishments in UK VAT groups; businesses can reclaim overpaid reverse charge VAT.
- Low Value Consignment Relief (LVCR) will be phased out from March 2029 to address revenue loss and unfair competition, with new customs and VAT rules to follow.
- From April 2026, VAT relief at zero rate will apply to businesses donating goods to charities for free redistribution, encouraging donations over landfill disposal.
- Changes to the Tour Operators Margin Scheme will prevent Private Hire Vehicle Operators from exploiting VAT rules, ensuring fairer competition with traditional taxi drivers.
Source: carpenterbox.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "United Kingdom"
- FTT: Yourway Transport Entitled to Recover Import VAT on EU Drug Deliveries, Not UK or Non-EU
- Court of Appeal Confirms FTT’s Supervisory Jurisdiction Over HMRC Discretion in Input Tax Cases
- FTT Upholds HMRC’s Best Judgment VAT Assessments Against Complete Electrical Services (NW) Ltd
- HMRC Updates List of VAT-Exempt Investment Gold Coins in VAT Notice 701/21A
- VAT Registration Reference Now Required for Business Tax Account Enrollment to Prevent Fraud
