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Offside whistle blown on HMRC

Offside whistle blown on HMRC

Today’s Blog concerns a football agent who received €4m for their part in an international transfer deal, zero-rated the transaction in their records, but then HMRC stepped in, demanding 20% VAT on the deal. VAT & Football Transfers: Background Sports Invest UK...
VAT Turns 50

VAT Turns 50

Many Happy Returns, VAT. Yes, it’s true, everyone’s favourite tax celebrated its 50th birthday on 1st April, which is quite appropriate given that it was April’s Fools day. But rather than giving three cheers we should be asking whether this complex tax will ever be...
When is an invoice not a VAT invoice?

When is an invoice not a VAT invoice?

Recently, a client asked me an intriguing question as to why more and more suppliers are issuing invoices with “This is not a VAT invoice” marked clearly on the document. This gives rise to a series of questions, including what does this mean in terms of VAT, what is...
Tax rises by stealth

Tax rises by stealth

Behind the curtains at Number’s 10 & 11 Downing Street, Jeremy Hunt and Rishi Sunak are desperately searching for clever ways to balance the Budget, without making it too obvious that taxes will be rising. Whilst Liz Truss and Kwasi Kwarteng believed that growth...
January 2023 VAT layman’s changes guide

January 2023 VAT layman’s changes guide

HMRC have just announced that in January 2023 they are bringing in a new penalty and interest regime for late filing of VAT returns and the late payment of any VAT due. This will result in some significant changes, including the prospect of penalties applying to both...