Domestic Reverse Charge – say what now?
In March 2021, the VAT position changed as far as certain construction services are concerned with the introduction of Domestic Reverse Charge (DRC). So what led to this momentous change?
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VAT
What superpower would you have if you could?
Invisibility? Being able to fly? Teleportation?
Or how about being able to re-write the law to suit yourself and ensure you are always on the right side?
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What mistakes are you making on your VAT return?
With the complexity of the VAT laws, it’s understandable that businesses make mistakes on their VAT returns. When VAT was first introduced in the UK way back in 1973, it was hailed as a simple tax. Turns out it isn’t quite so simple after all.
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The “Jaffa Cake” case!
In the UK, value-added tax is payable on chocolate-covered biscuits – but not chocolate-covered cakes. McVitie’s classified Jaffa Cakes as cakes, which HM Revenue & Customs (“HMRC”) accepted but always had misgivings.
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