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Anniversary waltz

02 April 2013 / Neil Warren
Issue: 4396 / Categories: Comment & Analysis , VAT

Dancing around key dates in VAT’s 40-year history


  • Jaffa Cakes and determining the appropriate rate of VAT.
  • Supplies of land and the option to tax.
  • Card Protection Plan and mixed or separate supplies.
  • The recent decision in Antiques Within Ltd.
  • Tips and traps and the flat rate scheme.

VAT celebrated its 40th birthday in the UK on 1 April. It was introduced back in 1973 as a “simple tax” two words that have come back to haunt the orator (whoever he was) on many occasions. While a few people might disagree in my humble opinion VAT is the most important tax for a business to get right.

This is mainly because it is charged by reference to what is hopefully the biggest figure in the accounts: ie sales rather than profit. And I...

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