Monthly Archives: December 2015

VAT Zero-rating for Boats

To qualify for VAT zero-rating a boat or ship has to be above 15 tonnes and not designed or adapted for recreation of pleasure. Value Added Tax Act 1994, schedule 8, group 8, item 1 and note A1 refer. Eamon … Continue reading

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Higher Stamp Duty on Extra Residential Properties

The government are introducing an across the board extra 3% of stamp duty land tax (SDLT) on people buying a second or extra residential property. Companies will be targeted as well to stop avoidance. HMRC this week published a consultation … Continue reading

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Estonia Pulls out of Financial Transaction Tax

Estonia has pulled out of joining the EU’s proposed Financial Transaction Tax, FTT. Also called the Ronin Hood tax. In theory the FTT cuts down damaging short-term trading and reimburses EU government for the trillions given to the financial sector … Continue reading

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  US-linked Cadburys UK Pays No UK Corporation Tax • Cadburys used to be a British chocolate company. Then it got taken over by US Kraft Foods, later Mondelez. At the time of the take-over the UK government spun all … Continue reading

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Europe to Investigate McDonald’s Tax Links to Luxembourg

• The European Commission has announced an investigation into McDonalds’s tax arrangements with Luxembourg. • The issue is whether its special favoured treatment by Luxembourg amounted to illegal state aid. It is reported the deal let McDonalds pay no, or … Continue reading

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Residential Caravans to Stay VAT Zero-rated

• A HMRC policy paper confirms the current VAT zero-rate for residential caravans is to stay. • VAT Act 1994 schedule 8 group 9 item 1 used to refer just to a 2005 British Standard, BS 3632:205, in order for … Continue reading

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