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The government will implement an EU Directive on the VAT treatment of vouchers to ensure that the correct amount of VAT is charged on what the customer pays, irrespective of whether payment is with a voucher or other means of payment.
This measure introduces legislation providing for the VAT treatment of vouchers issued on or after 1 January 2019. It affects only vouchers for which a payment has been made and which will be used to buy something. The measure does not apply to vouchers issued before 1 January 2019, for which existing rules will continue to apply.
26 Apr 2024
HMRC has updated guidance on when tax relief is available on travel expenses for staff who work from home.
25 Apr 2024
Figures have shown that UK borrowing over the last financial year was £7.6 billion lower when compared to the year before.
24 Apr 2024
Data published by HMRC has revealed that inheritance tax (IHT) receipts rose to a record high of £7.5 billion in the 2023/24 tax year.
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