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.
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.
The IMI has called for further development in EV skills training, following the Government’s response to the Business, Energy and Industrial Strategy (BEIS) Committee's Electric vehicles: driving the transition report.
Dragon2000 has urged dealers to ensure they are compliant with the Government’s new Making Tax Digital service, designed to make it easier for businesses.
Fleets will continue to delay disposal of their vehicles until next spring as many await an end to the emissions taxation uncertainty surrounding WLTP, ADESA Remarketing has said.
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.
A cross-party group of 42 Parliamentarians have called upon the Chancellor of the Exchequer, Phillip Hammond, to use this upcoming budget to stimulate the uptake of electric vehicles (EVs).
RSM has appointed Mark Morton as a partner to strengthen its automotive sector tax and auditing expertise for OEMs and car retailers.
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.
Car retailers face a £158.5 million tax rise over the next five years as “further increased liabilities if investing” place further pressure on an industry which has lost one-in-ten locations since 2009.
Diesel car buyers could be put off a new purchase after new tax measures announced in Philip Hammond's 2017 Autumn Budget added upto £300 to the first year VED rate.
Diesel vehicles' fate is sealed according to car retailers speaking ahead of a government budget which is likely to a strict new tax regime for vehicles powered by the fuel.
Dealers hopes for another VAT windfall have been dashed. The Supreme Court yesterday overturned earlier positive court decisions in relation to Littlewoods’ claim for compound interest on overpaid VAT.
A Luxury car dealer has been ordered to pay back £2 million to the HMRC or face a further decade behind bars for his VAT fraud offences.
Three out of four car dealership employees are overpaying BIK tax on their company vehicle according to an audit carried out by Cooper Solutions.
A used car dealer who pocketed £1.1m in tax he should have paid for profits from his business, escaped a potential eight years in jail with 300 hours of unpaid work and a curfew.
Tax reforms aiming to bring the self-employed in-line with full-time employees and renewed investment roads infrastructure have been announced in the Spring Budget 2017.
March is set to "dominate" 2017 in new car sales terms as a growing trend for record monthly sales comes to a head, according to analysis by automotive data experts Cap HPI.
The forthcoming budget is likely to see major changes to the ability of dealers to sell vehicles to disabled customers VAT-free.
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.