Tag: HMRC

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VAT Payback and Clawback Rules: Implications of Changing Business Plans

VAT applies to taxable supplies made by a VAT-registered person, whether an individual or a company. VAT-exempt supplies in the UK are goods and services that are not subject to VAT at any rate, including the standard rate (20%), reduced rate (5%), or zero rate (0%). Businesses making only VAT-exempt supplies do not charge VAT

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Should You File a Formal Complaint with HMRC?

HMRC has not been getting good press lately. Time spent waiting for a tax refund, an answer to a letter, or over an hour on the telephone trying to speak to someone with no success has not gone well with HMRC’s ‘customers’. You can complain, but to whom do you complain, and will you get

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Brightline Test for Furnished Holiday Lets (FHLs) Rejected by HMRC

Landlords with furnished holiday lettings (FHLs) face an uncertain future. At the time of the Spring 2024 Budget, it was announced that the tax regime for FHLs would be abolished on April 6, 2025. However, no further details were announced before the general election was called, leaving landlords uncertain as to whether the proposals would

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HMRC’s use of artificial intelligence – How AI is assessing the risk of tax evasion by businesses

We are increasingly hearing more and more about artificial intelligence (AI) and how its use can change our way of working both now and in the future. Artificial Intelligence is constantly evolving, but it generally involves machines using statistics to find patterns in large amounts of data, perform repetitive data tasks without the need for human

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