HMRC: VAT Update
- The FAQs on HMRC's website have been updated to consider the recent amendments to VAT registration.
The following frequently asked questions have been added:
- Online VAT registration.
- VAT 1 form.
- Process following application for VAT registration.
- HMRC have placed VAT Information Sheets 01/07 to 04/07 on their website. In addition a press release was released on the outcome of the VAT carousel fraud case.
VAT Information Sheets:
- 01/07
This Information Sheet provides currency exchange rates required by non-EU businesses registered for the special scheme in the UK, for reporting period ending December 2006.
- 02/07
This Information Sheet provides the VAT rates for electronically supplied services for Bulgaria and Romania, from 1 January 2007.
- 03/07
This Information Sheet advises a change in the VAT rate for Germany from 1 January 2007.
- 04/07
This Information Sheet explains the effects of the enlargement of the European Union (EU) on 1 January 2007.
- HMRC have placed the minutes from the JVCC meeting of 8 November and an RIA on the proposal to increase the exemption limit for Intrastat reporting.
- The minutes from a meeting of the Joint VAT Consultative Committee (JVCC) on Wednesday 8 November 2006 are available.
- Regulatory Impact Assessment (RIA) considers the beneficial impact of increasing the exemption threshold (from £225,000 to £260,000) above which VAT registered traders are required to complete Intrastat declarations.