Specialist Tax Regulatory Materials
HMRC has updated its guidance on accounting for import VAT on VAT Returns.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Exporting goods 鈥� proof of exportIn addition to the requirements laid down in the Exporting goods 鈥� overview guidance note, businesses intending to zero-rate exported goods must hold satisfactory evidence that the goods have been delivered to a destination outside of the UK. If satisfactory evidence
Subsistence expensesIntroductionSubsistence is the amount incurred as a consequence of business travel. Typically it relates to accommodation and meal costs incurred. These amounts are allowed because they are associated with the necessary travel which is not to a permanent workplace. See the Travel
Holdover relief for disposals by trusteesOverviewWhere a capital gain has been realised on an asset that has been disposed of and that disposal was not for full value (that is not in an arm鈥檚 length sale) then holdover relief may be available. This will happen when trustees appoint capital assets
