VAT

A value added tax (VAT) is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the “value added” to a product, material or service, from an accounting point of view, by this stage of its manufacture or distribution. The manufacturer remits to the government the difference between these two amounts, and retains the rest for themselves to offset the taxes they had previously paid on the inputs.

HMRC / DVLA collaborate to prevent VAT evasion on Vehicles imported into UK

HMRC have joined forces with the DVLA in an attempt to stop businesses who bring vehicles in to the UK evading VAT. The “NOVA” System The new “NOVA” system will now enable the DVLA to check if a VAT¬†registered¬†business has notified HMRC ¬†when the business brings vehicles in the UK, before they register the vehicle. …

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Jurisdictional Limitations of the First-tier Tribunal (Tax)

The ongoing development of the First-tier tax Tribunal and the limitations of its jurisdiction have been unclear for those wishing to appeal against their tax assessments and in particular appeals against VAT assessments. The First-tier Tribunal, which was created in 2008 under the auspices of the Tribunal, Courts and Enforcement Act 2007 is still¬†considered¬†to be …

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How one family were brought to their knees by the taxman

Businessman tells how his life was destroyed after being wrongly accused of fraud by HMRC. Left to right: Pam and Pat Owen; Richard and Heather Mills; Bill and Rikki Owen; Ricki and Francis Hone¬†Photo: Geoff Pugh By¬†Alasdair Palmer, The Telegraph Rick Hone will never forget the morning of February 5, 2009. ‚ÄúI was in the …

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