VAT

EC forecasts stronger UK growth but warns on VAT rise

The European Commission has revised upwards its predictions for economic growth in the EU, but has suggested that the UK’s recovery may be hampered by the decision to increase VAT.

Pre-Budget Report to be 'dropped'

The government is likely to axe this year’s pre-Budget Report, according to press reports.

Consumers overestimate VAT hike

Consumers believe that the forthcoming VAT increase will add more to shop prices than it actually will, a new study has claimed.

Quicker if businesses correct their own VAT mistakes

Businesses have been advised by HM Revenue and Customs (HMRC) that it may be quicker if they themselves were to correct errors made in previous VAT returns.

Removal of ESC 3.29 for charitable buildings

Just over a year ago, HMRC announced that the charitable buildings concession (Extra Statutory Concession 3.29, effectively ignoring for zero rating purposes up to 10 per cent non-qualifying use of a relevant building based on time, floor space or head-count) would be withdrawn on 1 July 2010.

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