TaxCorporate TaxVAT exempts face temps hike

VAT exempts face temps hike

Withdrawal of concession leads to concerns of £125m a year bill for those exempt from VAT

Charities, banks and other groups who hire temporary workers are facing a
hike in VAT payments, following the withdrawal of a concession in the Budget.

Agencies are campaigning against the change, which prevents organisations
recovering costs tied to the recruitment of temps.

The Budget decision means that only VAT-rated businesses will qualify for
relief from April next year.

That means much of the not-for-profit sector, as well as financial services
groups, will lose the benefit, worth £125m a year to business, The
Telegraph
reported.

Further Reading:

Budget
bombshell

Related Articles

Watch out when winding up

Corporate Tax Watch out when winding up

1m Emma Rawson, ATT Technical Officer
How might Brexit affect UK tax policy?

Brexit & Economy How might Brexit affect UK tax policy?

1m Santhie Goundar
Corporation tax losses – your newly flexible friends

Corporate Tax Corporation tax losses – your newly flexible friends

3m Emma Rawson, ATT Technical Officer
HMRC large business tax enquiry duration rises to 3 years

Corporate Tax HMRC large business tax enquiry duration rises to 3 years

4m Emma Smith, Managing Editor
SMEs paying higher rate of corporation tax than big businesses

Corporate Tax SMEs paying higher rate of corporation tax than big businesses

4m Alia Shoaib, Reporter
Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

7m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

7m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

8m Alia Shoaib, Reporter