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VAT
The zero rate of VAT will apply to sales of personal protective equipment for Covid-19 from 1 May 2020 until 31 July 2020.
Loan charge
HMRC has updated its guidance on reporting and accounting for the disguised remuneration loan charge. In particular the section on ‘how to report a disguised remuneration loan’ has been revised on the spreading of the tax charge over three years.
Spanish VAT
Spain has introduced a new reduced VAT rate of 4% for books newspapers and magazines. It took effect from 23 April 2020.
VAT appeals
The list of VAT appeals that HMRC has lost and may have implications for other businesses has been updated.
Capital gains tax
HMRC has launched the UK property disposals service for reporting and payment of capital gains tax on UK property disposals made from 6 April 2020 (FA 2019 Sch 2).
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
