In brief: 31 October 2019

Budget cancelled

The Chancellor of the Exchequer Sajid Javid has written to the Treasury Select Committee confirming that the Budget will not take place on 6 November.

tinyurl.com/coebudgetx

MTD for VAT

HMRC has updated Notice 700/22: MTD for VAT. It replaces the May 2019 version with information on when and how businesses may apply for an extension of the April 2020 or October 2020 deadline for having digital links in place for transfers of data between software applications when the data continues to form part of the business’s digital records. HMRC will require businesses to show that it is ‘unachievable and not reasonable’ for them to have digital links in place by the current deadline.

tinyurl.com/hmrcvatn70022

VAT

HMRC has published for consultation draft legislation that allows four named public bodies to obtain refunds of VAT incurred in the course of their non-business activities. Comments should be emailed to