TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

HMRC – VAT Update

  1. VAT change to bring cashflow boost to small business
    HMRC issued a press release on the extension of the Cash Accounting Scheme (CAS).
    According to the press release, the threshold for CAS is to be more than doubled
    from £660,000 to £1.35 million with effect from 1 April 2007.
    Click http://www.gnn.gov.uk/Content/Detail.asp?ReleaseID=263096&NewsAreaID=2 for the news release.
  2. VAT Information Sheet 05/07
    This Information Sheet provides advice for health professionals affected by the changes
    to the VAT exemption for health following the ECJ decision in Dr d'Ambrumenil.
    The Information Sheet is available at http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageLibrary_PublicNoticesAndInfoSheets&propertyType=document&columns=1&id=HMCE_PROD1_026825.
  3. VAT Fraud and changes to the partial exemption regime
    HMRC issued a press release on the charging of nine persons in relation to VAT fraud. Click http://www.gnn.gov.uk/Content/Detail.asp?ReleaseID=262306&NewsAreaID=2.for further details.
  4. Changes to the VAT partial exemption special method regime
    Two changes to strengthen and simplify the special method regime were announced at PBR for implementation on 1 April 2007. For further information, click http://www.hmrc.gov.uk/ria/vat-partial-amendments-news-item.htm.
  5. VAT on medical services
    HMRC have published details on amendments to the VAT exemption for the supply of medical services provided by registered health professionals, following the decision of the European Court of Justice (ECJ) in the case of Dr Peter D'Ambrumenil (C-307/01). For further information, click http://www.hmrc.gov.uk/ria/vat-medical-services.pdf.
    In addition HMRC have published a document which summarises the responses the Government received to its consultation document ‘VAT: A review of the scope of the exemption for medical services’ issued September 2005. The document is available at http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageVAT_ShowContent&propertyType=document&id=HMCE_PROD1_026741