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Spring Budget 2022: Energy saving Materials

As announced in the Chancellor’s spring statement, effective from 1st April 2022 the VAT liability of certain energy saving materials will be cut from the previously applicable rate of 5% to the zero-rate – supplies covered by this change will revert to the reduced rate as of 1st April 2027.

Time and Cost Saving VAT Training

We are well aware that professional accountants and in house accounting staff at businesses, charities and other organisations need to maintain their professional development and ensure their VAT knowledge is up to date,.....

TOMS Applied to Serviced Accommodation

The Tour Operators Margin Scheme (‘TOMS’) applies to businesses that buy in and re-sell travel services, including but not limited to accommodation and passenger transport). This compulsory scheme was introduced as a means to simplify VAT accounting with respect to the onward supply of qualifying travel services by allowing the tour operator to account for VAT on the profit margin of the onward supply in their place of establishment, as opposed to registering for VAT in each EU country where the services and goods are enjoyed.