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

VAT Update

The following items were placed on the HMRC website in the past month :

VAT Info Sheet 10/07: explains some changes to current VAT invoicing regulations.

VAT Info Sheet 11/07: addresses difficulties experienced by some suppliers of standard-rated prescription products in accounting for VAT at the correct time.

VAT Info Sheet 12/07: provides an explanation of the new record keeping requirements affecting any business transferred as a going concern as a result of contracts entered into on or after 1 September 2007.

Consultation document concerning the reduction of administrative burdens on business–voluntary disclosure of errors on indirect tax returns. The closing date for responses is 31 October 2007.

Notice 732: This update clarifies the rules on making payments and leaving the scheme. The postal address for application forms and Direct Debit instructions has also changed.

JVCC: minutes from a meeting of the Joint VAT Consultative Committee (JVCC) on Wednesday 25 July 2007.