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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.
18 Mar 2024
The Institute of Chartered Accountants in England and Wales (ICAEW) has stated that new guidance from HMRC on research and development (R&D) tax relief guidance 'could be clearer'.
15 Mar 2024
HMRC is urging working parents to make use of its Tax-Free Childcare (TFC) scheme to help save on Easter childcare costs.
14 Mar 2024
New measures aim to 'break the spell' of financial fraudsters by giving payment providers more time, according to draft legislation published by the government.
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