HMRC
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Finance 1 MarHMRC's PCP car finance VAT changes could lead to PCH dominance
The HMRC has announced a policy change in the VAT treatment of PCP vehicle sales which is likely to have a major impact on the future of the car retail market.
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Supplier News 14 FebIndependent Garage Association (IGA) publishes Making Tax Digital guide
The Independent Garage Association (IGA) has published a self-help ‘Garage Guide to Making Tax Digital for VAT’ handbook to assist independent garages with their compliance to the HMRC’s new VAT legislation.
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Latest News 30 JanUsed car dealer jailed over £1.1m tax avoidance
A used car dealer already convicted of tax avoidence after failing to pay £1.1 million in taxes from his home-based retail operation has been jailed for three years.
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Technology 20 Nov
Making Tax Digital: dispelling the myths of the HMRC roll-out
Making Tax Digital (MTD) for VAT is being introduced by HMRC next year and presents a huge change for dealers, as HMRC seeks to digitise the administration and collection of tax.
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Supplier News 7 AugTMC app helps car dealers achieve HMRC compliance on fuel and mileage
The Miles Consultancy (TMC) has launched a new TMC Automotive smartphone app which aims to help dealers reduce overheads and HMRC compliance around fuel and mileage costs by tracking business journeys.
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Finance 18 JulHMRC gives clear message of VAT treatment of car dealer deposit contributions
HM Revenue & Customs (HMRC) decides dealer deposit contributions are not subject to VAT and invites claims to recover overpaid output tax.
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Opinion 26 AprGuest opinion: The new rules on zero rated sales of permanently adapted vehicles to disabled people
In severe cases of abuse, where fraudulent intent can be established, an individual may be prosecuted in a criminal court. Dealers will be affected by the implementation of these new rules.
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Opinion 20 FebGuest opinion: The hidden risk of VAT - is the motor industry compliant?
There are many areas of motor retail that can be subject to VAT risk and failing to apply the right VAT treatment in these situations can lead to assessments for underpaid VAT and the threat of penalties and interest.
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Opinion 1 Nov
Guest opinion: Engineered for success? Immigration and the automotive industry
The manufacture of cars and commercial vehicles has increased enormously worldwide – more than 25% in the last decade alone.
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Car Dealer News 31 Oct
Suspended sentence and £113,000 bill for tax-evading car dealer
A car dealer from Bury has been handed a 22-month suspended jail sentence after failing to declare his true income or register his business for VAT.
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Car Dealer News 31 AugFormer car dealer owners sentenced for VAT fraud
The former owners of a Maidenhead motor dealership who illegally claimed an £86,000 VAT repayment have been sentenced.
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Market Insight 31 MarDealers should 'exercise caution' over National Minimum Wage plans
Car dealerships have been warned to “exercise caution” when making plans to accommodate the new National Living Wage rate of £7.20-an-hour which it comes into force tomorrow.
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Used Cars 31 Mar
Dealer used valet's bank account in £100k tax scam
A car supermarket boss has been jailed for two years after channeling financial transactions related to 900 vehicles through a valet’s bank account to avoid paying tax.
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Market Insight 11 Jan
HMRC takes Littlewoods compound interest case to Supreme Court
Dealers have been warned that resolving compound interest claims may take ‘longer than expected’ after the HMRC were given leave to appeal the Littlewoods case at Supreme Court.
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Market Insight 9 DecHMRC puts dealer incentives under the VAT spotlight
Activity relating to the VAT treatment of dealer deposits and a possibility some dealers have declared too much VAT has led HMRC to review dealer incentives.
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Opinion 21 SepGuest opinion: A better way to calculate workers' annual BIK charge
The revised rules on calculating employees’ annual benefit in kind (BIK) charge came about against a back cloth of suspicion that employees were obtaining an unfair tax advantage
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Opinion 8 SepGuest opinion: an appeal to the Government for a better way to calculate workers’ annual BIK charge
Having consulted with a number of regional and national automotive retail groups over the last 12 months, the overwhelming feedback we are receiving is that whilst their finance teams believe they have implemented and are operating HMRC’s car averaging rules correctly, they are at best uncertain.
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Latest News 28 Aug
Company car numbers remain static - HMRC
The number of company cars in the UK has remained at the same level for the past two years.
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Opinion 9 JunGuest opinion: National Minimum Wage – know the law and avoid ‘name and shame’
Talking to finance directors it is of significant concern that should their company be named and shamed their position in the company may be at risk.
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Finance 26 May
Positive news for VAT refunds on demonstrators, according to ASE
Dealers’ claims for compound interest took a move forward last week, with a win for Littlewoods at the court of appeal, says ASE.
