HMRC Downtime Announced for Essential Services in February 2024
In a recent update from His Majesty’s Revenue and Customs (HMRC), a scheduled maintenance period has been announced, impacting several key services. The planned HMRC downtime is set to occur on specific dates in February 2024, affecting crucial functions related to VAT...
Online Agent Authorisation: HMRC Stops Service for VAT Clients
HMRC is discontinuing the legacy VAT for agents’ registration feature on the Online Agent Authorisation (OAA) service starting February 16, 2024. Agents seeking VAT representation authorisation must transition to the Agent Services Account (ASA) using a digital handshake. Transition to...
HMRC Campaign Targets Online Sellers’ Place of Establishment
HMRC is gearing up for a new campaign to verify the place of establishment for businesses selling via online marketplaces. The tax agency has informed stakeholders, including the CIOT, that letters will soon be dispatched as part of this initiative....
HMRC’s VAT Investigations Yield £11.4bn: Uncovering Unpaid Taxes Surge
In a noteworthy surge, HMRC’s VAT investigations witnessed a 23% increase last year, as the tax authority launched a robust campaign with 104,900 probes targeting unpaid VAT. The intensified efforts, particularly focused on mid-sized businesses, resulted in the recovery of...
Bolt’s Legal Victory: Potential £500M Repayment for Uber
In a significant turn of events, Estonian start-up Bolt has secured a legal triumph against HM Revenue and Customs (HMRC) in a tax tribunal, raising the possibility of Uber reclaiming almost £500 million. This win comes as a boost for...
VAT Fraudsters Stripped of £7.5 Million in Properties
HMRC's successful sale of properties linked to Syed Ahmed and Shakeel Ahmed, convicted for a multimillion-pound VAT fraud, recovers £10 million in total, showcasing ongoing efforts to reclaim stolen funds even after their extended sentences.
VAT On Commercial Property: What You Need to Know
Standard rate of VAT, currently 20%, is typically applied to commercial property transactions when the seller has opted to tax, or when new commercial properties are being sold or leased.
VAT and Property: Dispelling Myths and Avoiding Common Mistakes
The article dispels myths and avoids common mistakes related to VAT and property, such as its applicability, re-claimability, and option to tax.
Urgent Surge: UK’s Tax and NIC Receipts Soar in April-August 2023
Learn UK’s financial statistics for April 2023 to August 2023, showing remarkable growth in key tax categories.
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