Following a European Court Case HMRC have changed its view that only one free sample of a product can be treated as free of VAT. HMRC now accept the position that that all samples provided for marketing purposes are free of VAT and should not be treated as full value sales.
VAT previuosly paid in respect of the above samples can now be reclaimed, subject to the four-year time limit.
Wednesday 20 April 2011
Tuesday 19 April 2011
7 day grace period for filing returns comes to an end
From 1 April 2011 company tax returns for accounting periods ending after 31 March 2011 must be filed online. All forms P35 and P14 must already be filed online and contractors are no longer required to file end of year CIS returns. As a result HMRC has withdrawn ESC B46 which provided for a seven day period of grace in which by concession no penalties were charged for later filing.
In short post delays can no longer be an excuse for late filing.
In short post delays can no longer be an excuse for late filing.
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