Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Two changes

17 September 2013 / Neil Warren
Issue: 4420 / Categories: Comment & Analysis , VAT

Situations in which planned adjustments to regulations could save VAT for manufacturing and exporting businesses

I have just completed the notes and slides for my autumn VAT courses which is always a pleasing moment because I no longer feel as frantic as a whippet running round on an ice rink; normal service can resume.

So in this article I am going to share with you two important VAT changes that are due to take effect in the future one in 2014 and the other on 1 October 2013.

Rebates by manufacturers

This particular issue forced me to put on my thinking cap to consider whether – in the mysterious world of the nation’s favourite tax – it has ever been possible for a business to reduce its output tax on a supply (effectively a VAT credit) if it has never actually accounted for output tax on the sale in question.

I suppose a comparable situation would be getting...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

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.

back to top icon