Wolfson Associates Accountant North London South Herts Enfield

VAT

EC SALES LISTS FOR SERVICES 01-04-2010 From 1 January 2010 businesses that supply services to customers in other EU Member States, where the customer is required to account for VAT using the reverse charge mechanism, will have to include them on an EC Sales List (‘ECSL’). Prior to that date, ECSL entries are confined to Intra-Community supplies of goods. This is just one of the changes to be implemented between 1 January 2010 and 1 January 2015 as a result of the agreement reached between EU Finance Ministers in December 2007 and adopted in February 2008. The overall objective is ‘modernisation and simplification’.

PRIVATE USE CHARGE FOR MOTOR VEHICLES 10-07-2009 HMRC have produced a new information sheet which provides the new value based bands to be applied when using this simplified method of calculating VAT on the private use of company cars, demonstrator vehicles and rental cars, otherwise known as the “car averaging” calculation, from 1 May 2009.

VAT NUMBER VALIDATION 30-06-2009 New online service to increase legal certainty on VAT numbers. The European Commission has launched an online service allowing taxpayers to get a certificate proving that they checked the validity of the VAT identification number of their customer at a given time.

END OF PAPER VAT RETURN 28-05-2009 Currently one has the choice of submitting VAT return online or on paper. However, HMRC plans to phase out paper returns from April 2010. Paper returns should be sent to: HMRC, VAT Controller, VAT Central Unit, BX5 5AT. If one needs to use a courier service to deliver a VAT return, it should be sent to: HMRC, Alexander House, Southend, SS99 1AA.

Car CO2 Emission Data 28-02-2007 How to find your car's CO2 emission data. click here.............

VAT - New Car Scale Charges Announced 28-02-2007 With effect from 1st May 2007 Revenue & Customs have announced that car scale charges will be based on CO2 emissions, whereas previously they had been based on car cylinder capacity.

RECOVERING VAT ON MILEAGE ALLOWANCE 14-07-2006 VAT can be recovered on the fuel element of the mileage allowance paid to employees. Click here for further details.