VAT

A summary of all of the announcements about VAT can be found in the three Chapters of the Overview of Tax Legislation and Rates. They are listed below.

Chapter 1 - New tax changes for Finance Bill (FB) 2011

VAT low value consignment relief

VAT revalorisation of registration and de-registration thresholds

The Statutory Instrument 2011/897 and Explanatory Memorandum (Opens new window) entitled The Value Added Tax (Increase of Registration Limits) Order 2011 (SI 2011/897), was published on 23 March 2011.

VAT revalorisation of fuel scale charges

Chapter 2 - Previously announced measures for FB 2011

Refunding irrecoverable VAT Costs incurred by Academies

VAT: change of treatment of business samples
Due to an administrative error, this measure was missed from the list at paragraph 2.4. It is confirmed that the measure is proceeding as planned.

VAT Zero-rating: splitting of supplies
Due to an administrative error, this measure was missed from the list at paragraph 2.4. It is confirmed that the measure is proceeding as planned.

Chapter 3 - New tax changes for(FB) 2012 or beyond

Diplomatic privilege

VAT grouping extra statutory concession

VAT status of public bodies

Tackling VAT fraud on imported road vehicles

VAT mandation of online registration and tranche 2 of online filing of VAT returns

VAT cost-sharing exemption