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VAT Voice – January/February 2009

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VAT Voice – January/February 2009 VVAATT VVooiiccee© The bi-monthly newsletter of VAT Solutions (UK) Limited January/February 2009 WILL THE RECENT REDUCTION IN THE STANDARD RATE OF VAT ACTUALLY MAKE ANY DIFFERENCE? Inside this issue … As we all know, the Chancellor announced in the Pre-Budget Report on 1. Latest VAT news 24 November 2009 that the UK standard-rate of VAT would reduce from 2. In focus 17.5% to 15% for the period 1 December 2008 to 31 December 2009. 3. VAT cases Clearly, the aim of the reduction was to get consumers spending again by 4. VAT Tips bringing about lower prices, particularly in the retail sector. However, given that the reduction only reduces a £20.00 purchase to £19.58, there is considerable doubt as to whether the hoped for rise in spending will HMRC ISSUES NEW actually occur. Individuals may be expecting a greater impact on their INTEREST RATES household budgets than is likely to be the case, as many basic day- to- day purchases and essentials (i.e. most foods, domestic fuel and power, HMRC advised in News children’s clothes, insurance, mortgage and credit card interest) are not Release NAT 58/08 that, with subject to standard-rate VAT, and will be unaffected by the change. The effect from 6 December general consensus of experts seems to be that, in terms of benefit to the 2008, the rate of default public, the VAT reduction will be incidental, if not irrelevant. This was a interest charged on: view shared by many opposition MPs at the time, but interestingly, the • underdeclared VAT, air most critical comment appears to belong to Labour MP Frank Field, who passenger duty, described the measure as being akin to “spitting at a hurricane”! insurance premium tax, landfill tax, climate In the business world, the reduction will undoubtedly benefit those change levy, aggregates businesses which are unable to recover partially or fully the VAT that levy; they incur. Assuming the rate cut is passed on, there will be a benefit to • excessive repayments of those businesses or organisations in the exempt and non-business VAT, insurance premium sectors (e.g. financial service providers, insurers, care homes, welfare tax, land fill tax, climate providers, nurseries, and charities). They will also see a tangible change levy, aggregates reduction in costs, as the amount of irrecoverable VAT they suffer on levy and customs duties standard-rated goods and services decreases. However, in recovered by assessment administrative terms, all businesses are likely to be affected, as any ; and change in VAT rate creates numerous accounting and systems issues. • late payment of customs Some larger retail businesses, which will be under pressure to pass the duty; rate cut on, will suffer significant administrative costs in having to changes from 6.5% to 5.5%. implement price changes across multiple product lines with only a week’s notice. The suggestion in some quarters is that a lot of the smaller Conversely, the rate of retailers won't bother changing their prices, and will instead pocket the statutory interest paid: small difference for themselves as an offset against falling profits. • where an ‘official error’ has caused an As mentioned above, businesses only had a very short period of time in overpayment, a failure to which to amend their accounting systems and, where applicable, their claim credit, or a delay prices. However, as deferring the rate cut may have deferred consumer in certain repayments of spending, it was no doubt felt that any further delay into the busy VAT, insurance premium Christmas period would have been counter-productive. The last change in tax, land fill tax, climate the standard rate of VAT was over 17 years ago, when sophisticated ERP change levy, aggregates systems were in their relative infancy. This time around, it will have been levy and excise duties; or a far more difficult task to re-configure systems-based processes in order • where there has been to comply with the rate change by the due date. Retailers will also have undue delay in had to consider the impact of the change on their price point policy, and processing a claim for how they pass on the related reduced VAT charge to their customers. repayment of excise duty and customs duty. (By way of a helpful calculation tool, the old 7/47ths formula for working changes from 3.0% to 2.0%. out the VAT element of VAT inclusive amounts has now become 3/23rds) Page 1 VA T Voic e – Jan uary/F ebrua ry 200 9 Latest VAT News REVENUE & CUSTOMS BRIEF 57/08 £70 becomes due if that period is exceeded - then the payment will be consideration for use VAT – Excess charges in non-local authority of the facilities and subject to VAT. car parks The Brief explains HMRC’s revised policy on With regard to excess charges retained by excess charges and other penalties levied in contractors, the Brief advises that where site non-local authority car parks. Following the owners allow contractors to retain all or part of Bristol City Council case, HMRC accepted the penalties collected, it will constitute further that excess charges made in local authority consideration for their services to the parking car parks were outside the scope of VAT. site owner, and be subject to VAT. However this treatment was only in respect of local authorities. HMRC have reconsidered As a final point, HMRC advise that if any their policy, accepting the Bristol City Council operators have declared VAT on non-VATable decision was based on the contractual charges, they can make a claim for repayment relationship between operator and customer, subject to the normal 3-year time limits. and as such, the VAT treatment of excess charges should be the same for all operators. REVENUE & CUSTOMS BRIEF 60/08 Therefore, certain excess charges made by non-local authority operators which were VAT: Court of Appeal decision in the case of previously considered to be consideration for Loyalty Management (UK) Ltd - further a taxable supply of parking are now regarded clarification of HMRC’s position, pending as outside the scope of VAT. outcome of appeal to the House of Lords A reminder from HMRC about the ongoing The penalty charges that will no longer be appeal in the Loyalty Management (UK) Ltd subject to VAT are those that are levied where case, which concerns the VAT treatment of a driver is in breach of the terms of the payments for Nectar Scheme rewards. contract with the car park operator. The most common situations where a driver may be in The Brief gives a short background the case, breach of the contract are: making reference to HMRC’s loss at the Court of Appeal in 2007, where it was decided that • no parking ticket on display the payments made by LMUK to Nectar • underpayment scheme 'Redeemers', known as 'service • overstaying purchased parking time charges', were for taxable supplies of • returning within a specified time ‘redemption services’ by the Redeemer to • parking outside marked bays LMUK. LMUK was entitled to claim input tax • parking in bays set aside for disabled drivers on the amounts it had paid to Redeemers, so or parents with children long as that decision remains in effect. The Brief goes on to say that where the terms HMRC was granted leave to appeal to the and conditions make it clear that the driver House of Lords, which it duly did, with the HoL can continue to use the facilities after a set subsequently referring the matter to the ECJ. period upon payment of a further amount Pending an outcome to the case, HMRC point without being in breach of the contract – e.g. out that the VAT position is still the same as no charge for an initial 3 hours of parking, but that set out in R&CB 46/08, and further clarify Page 2 Latest VAT News (continued 1) VAT Voice – January/February 2009 that any Redeemers which are not treating the VAT Tribunal decisions in the cases involving the Rank Group. supplies as set out in R&CB 46/08, must do so from 17 September 2008 (the date the On 27 May 2008, the VAT Tribunal decided Brief took effect). Any guidance given to a that the VAT treatment of MCB provided by Redeemer prior to that date, which differed Rank was in breach of fiscal neutrality, and from guidance in that Brief, is withdrawn from consequently, these supplies should be the same date. The treatment advised in that exempt from VAT. In a further interim Brief will continue until further notice. decision on 19 August 2008, the Tribunal found that there had been a prima facie breach of fiscal neutrality in the VAT REVENUE & CUSTOMS BRIEF 61/08 treatment of Rank's gaming machine takings, and that these should have been treated as Intrastat - changes from 1 January 2009 being exempt from VAT before 6 December The Brief explains how businesses trading 2005, when UK law was changed to make all with other EU Member States could be gaming machine takings taxable. The Brief affected by changes from 1 January 2009, states that a second Tribunal hearing to hear and also gives advance notification of a further aspects of this issue is to be held in further change that is expected to take place October 2009. from 1 January 2010. HMRC says it has appealed against both Changes effective from 1 January 2009 decisions, and the High Court hearings are expected to be held in March or April 2009. • exemption threshold is increased from £260,000 to £270,000 In HMRC’s view, the law remains unchanged • delivery terms threshold is increased from in that VAT is and always has been properly £14,500,000 to £16,000,000 due on supplies of MCB and on the takings of gaming machines.
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