New Position of Belgian VAT Authorities on Credit Insurance The Belgian VAT authorities will implement the Euler Hermes EUCJ case as from January 1st, 2025. 😨 This is not a good news as the VAT refund on bad debts relating to amount indemnified will be limited. Read more: https://lnkd.in/eTCMzHNy
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We’ve just published our June issue of VAT Update. This month we look at: 🔹 VAT recovery on costs associated with the sale of a company, 🔹 VAT recovery in the world of footballers and their agents, 🔹 The importance of invoices when reclaiming VAT, 🔹 A medical VAT exemption case regarding assessment time limits, 🔹 A reminder about the importance and role of EORI numbers following updated guidance from HMRC, and 🔹 A link to our recent article on the introduction of the UK Carbon Border Adjustment Mechanism (CBAM), which proposes additional tax on imports of certain emission intensive goods. Read more: https://lnkd.in/env52_Wi #VATupdate #VAT #Saffery #HMRC #VATnews | Nick Hart, Callum Richards, John Butterfield, Sean McGinness
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Punishment for failure to Deduct VAT at Source: (1) Failure to deduct VAT at source and deposit the same to The Government Treasury, withholding entity shall be individually liable. (2) Defaulter shall pay the deductible amount with half-yearly interest @ 2% and such a person may be personalized amounting to up to BDT 25,000.
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The decision in Hastings Insurance Services v HMRC has sparked significant changes to VAT recovery rules for financial services. Following the ruling, the UK government introduced the 2018 amendment to the Specified Supplies Order (SSO), aiming to curb VAT avoidance schemes and restrict recovery opportunities for certain cross-border structures. VAT Director, Thomas Mobee breaks down the SSO, its impact, importance and the post-Brexit recovery opportunities in terms of Specified Supplies. Learn more about it here: https://bit.ly/4fjxHq9 #VAT #SpecifiedSuppliesOrder
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New guidelines 📝 were issued by the Commissioner for Tax and Customs (CfTC) on the 12% VAT rate for specific supplies effective from 1 January 2024. Learn how these changes impact credit management, securities, pleasure boat hiring, and human body care. Stay informed through our latest VAT Short Read 👉 https://pwc.to/3x0eHMM #MaltaVAT #TaxUpdates
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How to Apply the VAT Reverse Charge in the UK https://lnkd.in/e4yRggNG #UnitedKingdom #VAT #Tax #News Subscribe: https://bit.ly/2McweWZ
How to Apply the VAT Reverse Charge in the UK
https://www.vatupdate.com
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Ever puzzled by 'Reverse Charge' in VAT? It's when the recipient of goods or services accounts for VAT instead of the supplier. Misunderstanding it can lead to penalties. Don't let VAT complexities weigh on you; reach out on our website for expert advice. Let's demystify VAT together! #VATInsights🔍 👉🏻banksco.co.uk
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Managing Director at Makesworth Group (Makesworth Accountants, Makesworth Audit Services, Makesworth Tax Advisers)
Read this article if you are VAT registered and customers owe you money. Read More: https://buff.ly/3Mx1b80 #Debt #VatAndDebt #VATRelief #BadDebt #HMRC #BusinessFinance #AccountingTips
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UK businesses earning over £85k annually must register for VAT. Charge it on sales, reclaim it on purchases, and file on time to avoid penalties. Stay compliant, stay ahead! #vatuk #businessessentials #taxcompliance #ukbusiness #vatregistration #ukresidency