Partial Exemption News Today

On 28 August 2022, Decree No. 4,728 ("Decree") which partially reforms the MERCOSUR Common Nomenclature (NCM), went into effect in Venezuela…

Guidance on partial exemption and the Capital Goods Scheme

The tight timeframes we saw under Making Tax Digital (MTD) Phase 1 saw many businesses adopt a “compliance first” approach to MTD software. Focused on satisfying the immediate minimum requirements, the initial aim was to digitalise records and submit the tax return electronically. There was no real focus on how the business could use MTD to its advantage. From April, businesses will need to comply with Phase 2, requiring them to digitally link from the source data all the way through to the...

VBNB44500 - Specific issues: Religious services You should check the other guidance available on GOV.UK from HMRC as Brexit updates to those pages are being prioritised before manuals. A religious service is an act of worship following prescribed rules, that is open to the general public. This guidance is applicable only to religious services provided by ministers of religion in religious buildings. This does not apply to services that are not principally religious in nature, such as graduation...