.png)
.png)
NEIL WARREN finds some unseasonal cheer in the Chancellor’s VAT announcements
KEY POINTS
- Claiming overseas VAT will be simpler.
- Benefiting from 15% rate after 31 December 2009.
- Will deregistering be a good option?
- The reverse charge will apply to more transactions.
It is easy to forget about VAT when all of the post-Budget papers are scrutinised in great detail. Although there was nothing in the Budget to match the excitement of the 50% income tax rate there were some very positive VAT announcements that deserve a bit of airtime.
Overseas VAT refunds
The most pleasing announcement in my opinion was the fact that it looks as though the antiquated system of making claims for refunds of overseas VAT will be brought into the 21st century on 1 January 2010.
The claims process (known as an Eighth Directive claim) allows for example a UK business to reclaim...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
