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

I. Notice 709/1 Catering and take away food

This revised notice cancels and replaces Notice 709/1 Catering and take-away food (March 2002). This notice has been updated to take into account recent changes in this technical subject area. The notice is available at http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageLibrary_ShowContent&propertyType=document&id=HMCE_CL_000160.

II. Joint VAT Consultative Committee paper (01) 07

This paper contains details of proposed amending rules on VAT invoicing, together with a draft regulation and Partial Regulatory Impact Assessment (RIA). Click http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageLib-rary_PublicNoticesAndInfoSheets&propertyType=document&columns=1&id=HMCE_PROD1_027206 to access the paper.

III. Notice 701/10 Zero-rating of books etc

This Notice Update amends section 6 on single and multiple supplies. It replaces the guidance provided in Business Brief 20/2003. The notice is available at http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageLibrary_Show Content&propertyType=document&id=HMCE_CL_000102.

IV. International VAT Fraud

HMRC have announced new rules which will make it harder for organised criminals to steal VAT from the UK taxpayer and will be introduced on 1 June 2007. The HMRC press release is available at http://www.gnn.gov.uk/Content/Detail.asp?ReleaseID=272264&NewsAreaID=2.

V Notice 731 – Cash Accounting

This update reflects changes to the scheme which apply from 1 April 2007.

The Notice is available at http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageVAT_ShowContent&propertyType=document&id=HMCE_CL_000348.

VI. Simplified Import VAT Accounting (SIVA)

The form to apply for Simplified Import VAT Accounting is available at http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageLibrary_ShowContent&propertyType=document&id=HMCE_PROD_009625.