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Welcome to the first newsletter for the 2009-2010 edition of VAT Memo. The introduction of the new rules for the place of supply of services (known as the ‘VAT Package’) on 1 January 2010 is arguably one of the most significant changes to the VAT regime in recent years. It will mean substantial changes to the business records and processes for many businesses. The new year will also see the reintroduction of VAT at 17.5%, and in this issue we outline some of the practical issues facing businesses on the reversion to the old rate. We have prepared this newsletter to provide you with a comprehensive analysis of the changes in one document. We believe you will find this particular newsletter useful and informative in advising you about the reforms, and welcome any comments you may have as to how we can improve our service. We look forward to receiving your emails at flm@flmemo.co.uk. |
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VAT MEMO 2009-2010 |
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Newsletter Issue 1 |
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October 2009 |
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185 PARK STREET BANKSIDE LONDON SE1 9DY (T) 020 7803 4666 (F) 020 7803 4699 |
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Disclaimer This newsletter is provided on the understanding that the information contained within it is for guidance only, and that the publisher is not in business to provide legal or accounting advice or other professional services. Readers entering into transactions on the basis of, or otherwise relying on, such information should seek the services of a competent professional adviser. While every care has been taken to ensure the accuracy of the contents, the editors and the publishers cannot accept responsibility for any loss occasioned to any person acting or refraining to act as a result of any statement in this newsletter. |
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In this issue… Cross border services from 1 January 2010 » Business to business services (“B2B”) » Business to consumer Services (“B2C”) » Other services » Time of supply » EC sales lists (ESLs) » Overseas VAT reclaims » Impact on businesses » General rules » Special change of rate provisions » Supplies of services » Continuous supplies of goods and services » Hire purchase, conditional and credit sales » Deposists and payments in advance » Credits and contingent discounts » Facilities provided by clubs, associations, etc » Disclosure |
