VAT
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Latest News 20 NovSytner, Lookers, TrustFord and NFDA lobby NI MPs on Brexit VAT hikes
Business leaders from AM100 franchised car retailers Sytner, Lookers, TrustFord have joined the NFDA in lobbying Northern Ireland MPs on a Brexit tax issue which could result in a 20% price hike for used cars.
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Manufacturer 9 OctFord retailers’ Brexit VAT issue concerns branded as ‘scaremongering’
Suggestions that Ford car retailers could go out of business as the result of a Brexit-related change to the brand’s VAT invoicing have been branded as “scaremongering”.
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Manufacturer 8 OctFord dealers need £750,000-per-site to solve post-Brexit VAT issue
Ford retailers who are unable to find £750,000-per-dealership site to fund a post-Brexit change to the brand’s VAT invoicing regime could be forced out of business, it has been claimed.
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Market Insight 9 JulSMMT ‘bitterly disappointed’ by Chancellor’s omission of automotive stimulus
The Society of Motor Manufacturers and Traders (SMMT) has expressed “bitter disappointment” over the omission of an automotive sector stimulus package in the Chancellor of the Exchequer’s ‘mini budget’.
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Market Insight 8 JulJob retention and creation Chancellor’s COVID-19 recovery plan priority
Chancellor of the Exchequer Rishi Sunak put job retention and creation front and centre of his £30 billion COVID-19 “mini budget” – prioritising hospitality, tourism and housing with fiscal stimulation measures.
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Market Insight 5 Mar
SMMT urges VAT exemption for EVs following February car sales decline
The Society of Motor Manufacturers and Traders (SMMT) has called on the Government to remove VAT from electric vehicles to boost sales after the UK’s new car sales volumes declined 2.9% in February.
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People News 26 FebKiller car dealer wins HMRC VAT battle from jail
The former owner of Bolton’s IGW car dealership group has won a £310,000 VAT battle with the HMRC from his jail cell while serving a life sentence for the 2011 murder of his wife.
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Opinion 11 DecEVs: the challenge and opportunity for car dealers, guest opinion
For years there have been prophecies of doom for franchised new car dealers.
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Opinion 27 SepThe E-sig problem: HMRC’s latest attack on car dealers, guest opinion
MHA MacIntyre Hudson’s Motor Specialist Team has seen a significant rise in HMRC enquiries at both franchised dealers and car supermarkets.
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Opinion 29 MarHMRC Making Tax Digital: A survival guide
With the April 1 deadline for the introduction of the HMRC's Making Tax Digital (MTD) platform for VAT now upon us, Alison Horner, partner and head of VAT at MHA MacIntyre Hudson, gives her top tips on how to survive the new system.
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Latest News 6 MarEffect of HMRC PCP changes will be ‘limited’ with sensible residual values, says Startline
The effect of changes announced by HMRC this week relating to how VAT applies to PCPs will be “limited” as long as sensible residual values are being set by finance companies, says Startline Motor Finance.
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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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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 30 MaySome uplifting news on VAT clawback - guest opinion
Gerry Myton, head of VAT at Harwood Hutton, shares some taxation advice for dealers
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Market Insight 2 Nov
Court ruling may end dealers' hopes of compound interest on overpaid VAT, says ASE
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.
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Car Dealer News 8 SepJailed luxury car dealer ordered to repay £2m to HMRC
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.
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Market Insight 31 Mar
Dealers urged to be aware of new VAT guidelines on adapted vehicles for disabled customers
Dealers are being urged to ensure staff involved in the sale of adapted vehicles for disabled customers are aware of new VAT guidelines.
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Latest News 10 Mar
Used car dealer tax avoids jail over £1.1m unpaid taxes
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.
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Opinion 1 Mar
Guest opinion: Changes to disabled modified car sales may be ‘open to legal challenge’
The forthcoming budget is likely to see major changes to the ability of dealers to sell vehicles to disabled customers VAT-free.
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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.
