Two changes

17 September 2013 / Neil Warren

Issue: 4420 / Categories: Comment & Analysis , VAT

Situations in which planned adjustments to regulations could save VAT for manufacturing and exporting businesses

I have just completed the notes and slides for my autumn VAT courses which is always a pleasing moment because I no longer feel as frantic as a whippet running round on an ice rink; normal service can resume.

So in this article I am going to share with you two important VAT changes that are due to take effect in the future one in 2014 and the other on 1 October 2013.

Rebates by manufacturers

This particular issue forced me to put on my thinking cap to consider whether – in the mysterious world of the nation’s favourite tax – it has ever been possible for a business to reduce its output tax on a supply (effectively a VAT credit) if it has never actually accounted for output tax on the sale in question.

I suppose a comparable situation would be getting...

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Two changes

17 September 2013 / Neil Warren

Situations in which planned adjustments to regulations could save VAT for manufacturing and exporting businesses

So in this article I am going to share with you two important VAT changes that are due to take effect in the future one in 2014 and the other on 1 October 2013.