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Articles about Vat

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VAT's all folks: Telecoms and services tax to be set at consumer's homeland rate

VAT relating to cross-border business-to-consumer transactions will be charged at the rate in the country where the customer is based, rather than that of the supplier, under new EU rules to take effect in 2015. Explanatory notes on new VAT rules for telecoms, broadcasting and electronic services have been published by the …
OUT-LAW.COM, 08 Apr 2014
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3 Brits banged up for £300k VAT scam

Three men have been jailed for setting up nine totally fictional firms so that they could get away with £300,000 in a VAT scam. The men set up bogus companies including a clothes manufacturer, a publishing house and a software engineering company and then submitted VAT repayment claims for the businesses, the HMRC said today. …

HMRC dishes out tax rewards to GOV.UK... for inking deals with MEGABUCKS SIs

Departments using large system integrators are eligible for VAT refunds from their IT, while those purchasing off-the-shelf "cloud" services will be entitled to nada, according to the latest draft HMRC guidance. The guidance appears to directly contradict moves by the Cabinet Office to get departments to buy cheap, standardised …
Kat Hall, 13 Nov 2014
The Register breaking news

Virgin Media gets VAT refund from HMRC

Virgin Media has received a refund of £81.5m from HM Revenues and Customs (HMRC) covering VAT payments. The telco said in a short statement that its current contingent liability had been reduced to £23.6m. Virgin Media didn't reveal any further details about the arrangement. In the company's last quarter ended 31 March this …
Kelly Fiveash, 07 Jun 2011
The Register breaking news

Ebooks must stay fat with VAT, blame the EU, MPs told

When it comes to applying VAT to ebooks, the UK government remains bound by EU law, the Exchequer Secretary to the Treasury told MPs yesterday. In October 2010 HM Revenue & Customs described the process of supplying "text by electronic transmission" via the internet - such as Amazon flogging ebooks on its Kindle Store - as …
Team Register, 13 Dec 2011
Lord of the Rings: Extended Edition Blu-ray

High Court asked to keep 'cheap DVD' VAT loophole open

The English High Court will tomorrow begin an investigation to determine whether online retailers should be allowed to avoid paying VAT on CDs, DVDs and Blu-ray Discs. The judicial review, demanded by the Governments of Jersey and Guernsey, follows Chancellor George Osborne's decision to close the Low Value Consignment Relief ( …
Tony Smith, 12 Mar 2012
The Register breaking news

Government flies kite for VAT changes

The Coalition Government seems to be serious about changing VAT rules which currently allow big retailers to dispatch items via the Channel Islands in order to avoid paying the tax. The exemption was designed to protect Guernsey's flower growers but has been exploited by the likes of Tesco and Amazon who can undercut prices for …
John Oates, 03 Mar 2011
The Register breaking news

Tesco axes VAT from laptops

Tesco is knocking the VAT off a stack of notebooks and netbooks in a bid to get downturn-dashed Britons buying again. The deal will see prices in stores and online reduced by 20 per cent, effectively removing the impact of the new, higher VAT rate. A case in point: Samsung's Galaxy Tab, which Tesco was selling for £449, will …
Tony Smith, 26 Jan 2011
The Register breaking news

Sony UK fuels Christmas cheer with VAT back promo

Sony UK is running a VAT back promo with most of the UK's consumer electronics retailers in the Christmas run-up. In other words you claim a 17.5 per cent discount on a bunch of gadgets bought between 28 October and 24 December. You have until 31 January to claim the cash back from Sony. The scheme includes "all 3D televisions …
Hard Reg, 27 Oct 2010
homeless man with sign

UK.gov moves to close VAT loophole on etailers

The UK government is planning to close the loophole in tax law that was allowing online retailers to funnel goods through the Channel Islands and thereby evade import VAT. The Exchequer Secretary to the Treasury David Gauke told the Commons yesterday that there would be further reforms to the relief from import VAT known as Low …
homeless man with sign

Channel VAT loophole shrunk, not shut

George Osborne is cutting the value of goods which can be sold without VAT, but he is not ending the system which allows retailers with warehouses in the Channel Islands to ship goods VAT-free to the UK. The tax hole has seen the likes of Amazon, Tesco and Play.com shift warehouses to the islands in order to sell mail-order DVDs …
John Oates, 23 Mar 2011
The Register breaking news

Woman with 15 IDs gets 7 years for multiple VAT fraud

A Bristol woman has been jailed for using a complex web of 15 different identities and companies to defraud the Revenue out of £118,000. 48-year-old Alison Reynolds was jailed for seven years yesterday for VAT fraud and police offences. Reynolds was found guilty of four charges of cheating the Public Revenue, one charge of using …
John Oates, 06 May 2011
channel

Small biz calls for end date on enhanced 17.5% VAT

Small business lobbyists are calling on Chancellor George Osborne to review the 2.5 per cent hike in VAT once the UK budget deficit is back under control. From today the top rate of VAT goes up to 20 per cent. Retail analysts have warned that the real impact of this is likely to be price rises of between five and eight per cent …
John Oates, 04 Jan 2011
fingers pointing at man

Osborne urged to end islands VAT-holiday by small-biz group

Chancellor George Osborne should end the right of companies to import low-value items VAT-free from the Channel Islands and do something to reduce petrol and diesel prices, says a small-biz body. Ahead of Wednesday's Budget various runners and riders are jostling for attention. The Forum of Private Business said it was time to …
John Oates, 21 Mar 2011
For Sale sign detail

VAT fraudster gets 9 years for refusing £40m bill

Emmanuel Hening, already serving the longest sentence ever secured against a VAT-fraudster, has seen another nine years added onto his sentence. A court last week added to his 15-year sentence because he has failed to repay £40m demanded by Her Majesty's Revenue and Customs. Vat fraudster Henning Hening, who has dual French- …
John Oates, 22 Nov 2010
Bitcoins

Your Bitcoins aren't money – but it is barter, so we'll tax it, ta ... says Australia's taxman

The Australian Taxation Office (ATO) has issued its official assessment of Bitcoin and other crypto-currencies – and decided it isn't money but can be taxed. The ATO's note says BTC is “neither money nor a foreign currency” and that “transacting with Bitcoins is akin to a barter arrangement”. Australia taxes formal barter …
Simon Sharwood, 21 Aug 2014
School kids

What do teenagers love doing? That's right: Staying up all night ... debugging

Sauce vat GitHub has bundled together a set of free and low-cost programming tools and resources for teenagers. The website said its Student Developer Pack is for aspiring developers aged 13 and up. "There's no substitute for hands-on experience, but for most students, real world tools can be cost prohibitive," GitHub said in …
Shaun Nichols, 07 Oct 2014

Peep peep! All aboard the £300m UK education IT procurement express

The clock is ticking for tech suppliers wanting to grab a seat on the soon-to-be refreshed UK "ICT Services for Education" framework gravy train, estimated to be worth up to £300m over four years. A contract notice was placed by Crown Commercial Services on the Official Journal of the European Union at the weekend, indicating …
Paul Kunert, 28 Oct 2014
The Register breaking news

ECJ ruling puts VAT on salary sacrifice schemes

Drugs giant Astra Zeneca should pay VAT on retail vouchers given to staff that form part of a salary sacrifice scheme, the European Court of Justice (ECJ) has said. The ruling could derail some similar schemes. Salary sacrifice schemes operate by allowing employees to receive vouchers or benefits instead of part of their salary …
OUT-LAW.COM, 19 Aug 2010
amazon_SM

Amazon intros early VAT cut

The government’s VAT cut doesn’t take effect until Monday, but one online retailer just couldn’t wait and has already introduced it. Amazon has created a promotional code called “LOWERVAT” that’ll give you a reduced rate of VAT instead of the full 17.5 per cent. Presumably Amazon’s decided to take a small financial hit on each …
James Sherwood, 26 Nov 2008
LG Display solar e-book viewer

E-book readers attract unwanted VAT

Many of those finding e-book readers under their Christmas tree have been surprised to discover that electronic titles attract value added tax, despite the dead-tree versions being VAT-free. As the UK VAT rate returns to its pre-recession level of 17.5 per cent, owners of e-book readers are finding out that they have to pay it …
Bill Ray, 14 Jan 2010
Xbox_baby

What the world needs now is... a Bluetooth-enabled baby's dummy

UK startup Blue Maestro is about to solve the spit-the-dummy-out-of-the-crib problems forever with Pacifi, a toddler’s dummy that comes with a Bluetooth connection. The device combines silicon and silicone to measure the child’s temperature and can provide a level of monitoring which is not possible even with regular checking. …
Simon Rockman, 09 Jul 2014
fingers pointing at man

Channel Islands VAT loophole shut, petrol prices cut

Osborne said he was accepting Lord Hutton's pension recommendations as the basis for future discussion to reform complex rules and taxation. Personal tax and duties: Gift Aid will be made easier – charities will be able to file online. People will be able to hand over works of art in exchange for tax rebates. There will be …
John Oates, 23 Mar 2011
cloud

Five jailed for £140m VAT scam

Five men have been jailed for their roles in a huge missing-trader fraud which netted £140m. The men were sentenced to 37 and a half years in prison in total. HMRC said the five were motivated by pure greed. They were convicted of various counts of cheating the Revenue contrary to Common Law. Andrew Hart (40) of Cricklewood, …
John Oates, 24 Mar 2011
EMC VNX2 line up

Somebody's nightmare? I'm a veteran VNX array with a BADGE

Lenovo has started selling VNX arrays, adding a "VNX5150" to its product line-up. The VNX5100 is an entry-level SAN product that was effectively replaced by the block and file VNX5200 array in September last year. There is still a VNX5100 page on EMC’s website but a linked VNX Hardware Data Sheet PDF omits it from the VNX line- …
Chris Mellor, 04 Sep 2014

Tech Data to close lid on accounting nightmare TOMORROW

Tech Data is about to wake up from the restatement nightmare that has troubled senior execs for nearly 11 months when it reports delayed fiscal '13 numbers tomorrow. The world's second largest tech wholesaler revealed in March that it discovered errors in vendor accounting which could wipe up to $33m off its bottom line for …
Paul Kunert, 04 Feb 2014
Wile E. Coyote goes over the edge again

CONSUMERISM IS PAST ITS SELL-BY DATE: Die now, pay later

John Watkinson, in his latest instalment for El Reg, argues that consumerism, as it is practised today, is an invention that now does more harm than good both to quality of life and the environment. We are on a driverless train to nowhere and we need to jump off. The economic crash exposed all that is wrong with how we conduct …
John Watkinson, 05 Oct 2014
channel

EC to amend VAT Directive

The European Commission has proposed (pdf) a series of measures, including changes to the VAT Directive, to prevent and detect VAT fraud. The Commission today adopted a Communication (pdf) presenting a short-term action plan with a list of future legislative measures to enhance the capacity of tax administrations to prevent or …
OUT-LAW.COM, 02 Dec 2008
Reg man wears Google Glass

Google starts selling Glass to Brits – for £1,000 a pop

Google is opening up the sale of its Glass head-mounted computers to customers outside the US for the first time, and the UK is the first country to get them. "Beginning today, we're extending our open beta Explorer program to the UK. The world sees the UK as a center (actually, a centre) of innovation," said the Chocolate …
Iain Thomson, 23 Jun 2014
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Hefty porridge for £300m VAT ring

Five members of a missing trader fraud gang have received sentences of up to four and a half years for a £17m scam based around mobile phones, HMRC revealed yesterday. The gang nobbled the revenue in a "complicated" fraud centred on mobile phones, SIM cards, memory and other mobile phone accessories. HMRC said paperwork …
Joe Fay, 03 Dec 2010
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VAT Directive to change to end carousel fraud

The European Commission wants to amend the VAT Directive to help eradicate a kind of international VAT fraud that is estimated to have cost the UK exchequer up to £2 billion a year. Carousel fraud is a form of what is known as Missing Trader Intra-Community (MTIC) fraud, though the terms are sometimes used interchangeably. MTIC …
OUT-LAW.COM, 30 Sep 2009
Playground spring horse

Virgin Media sales are a bit flat under the Cable Cowboy's reign

Virgin Media has been part of Cable Cowboy John Malone's Liberty Global family for almost a year now. Yet the takeover hasn't boosted the UK telco's flat first quarter sales, which the City was told about this morning. Although growth in consumer and mobile revenue had rose, overall sales climbed a slender one per cent, to £1. …
Kelly Fiveash, 07 May 2014
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UK extends VAT crackdown as EU OKs cut-rate cobblers

The EU has given the green light to the UK to extend its reverse charge VAT scheme aimed at cracking down on carousel fraud. The two year extension to the UK's efforts to claw back VAT on alleged dodgy mobile phone and computer chip deals came at a meeting of European finance ministers that also OK'd a raft of VAT changes to …
Joe Fay, 11 Mar 2009

KPMG: UK tech supplier takes on 'majority' of customers from titsup Glasshouse

More than half the workers at defunct storage consultancy Glasshouse Technologies have been chopped after administrator KPMG failed to find an investor to secure the business as a going concern. Glasshouse simply ran out of cash and called in the receivers late last month just days before it was due to defend itself against a …
Paul Kunert, 23 Apr 2014

Dark SITH LORD 'Darth Vader' joins battle to rule, er, Ukraine

The Ukrainian Internet Party has announced that a man wearing the costume of the Dark Lord of the Sith is their chosen candidate for the country's presidential elections on 25 May. According to the Russia's Interfax news agency, the party was serious enough to stump up the whopping UAH 2.5 million (approx £132,000) registration …
Team Register, 02 Apr 2014
Picard Facepalm

123-reg shrugs off customer complaints over stealth domain transfer charges

Web hosting outfit 123-reg has dismissed a number of complaints from disgruntled customers who are angry with the company's sudden decision to abandon its promise to keep domain transfers free on its service. The Register heard from a family-run website business, The Mayne Design, which griped about the stealth changes to 123- …
Kelly Fiveash, 03 Apr 2014

Amazon wants me to WEAR NAPPIES?! But I'm a 40-something MAN

I am a very lucky man: Amazon is offering me a 20 per cent discount. The cynics among you might try to claim that everything at Amazon is offered at a 20 per cent discount because of its advantageous tax arrangements but that would be the result of confusion. My 20 per cent discount has nothing to do with VAT being 20 per cent …
Alistair Dabbs, 14 Mar 2014

THE DEATH OF ECONOMICS: Aircraft design vs flat-lining financial models

John Watkinson continues his series of essays for El Reg in which he examines failures in society from banking and education to transport and IT. Here, with a critical eye on our economic plight, he looks at the methods employed by those doing the sums and their consequences. Here we are, several years into the aftermath of the …
John Watkinson, 21 Sep 2014
The Register breaking news

EC tells Euro rebels: Hike up your ebook tax to 15%, or else

Luxembourg and France must stop applying a reduced VAT rate to electronic books because doing so distorts competition across the rest of the EU and is in breach of EU tax laws, the European Commission has said. The Commission said it had issued both member states with "reasoned opinions" formally requesting that countries change …
OUT-LAW.COM, 29 Oct 2012
WD TV bix

WD adds Miracast support to feed-slinging tellybox gizmo

WD has updated its “sling your media to the TV” box and brought out the WD TV Personal Edition, adding Miracast support. It's a media player that, according to the bumf, "plays virtually any media file stored on USB and network storage devices or any computer on the home network." It supports file formats like MKV, MP4, AVI, …
Chris Mellor, 07 Jul 2014
channel

VAT fraudster must repay £26m

A convicted VAT fraudster has been ordered to pay Her Majesty's Revenue and Customs £26m or serve an extra ten years in prison. Craig Johnson is already serving 12-and-a-half years for his part in a missing trader or carousel fraud which defrauded the Revenue of £138m. The confiscation order means Johnson must cough up £8m …
John Oates, 24 Nov 2008
frustration_anger_irritation_annoyance pain

Restatements HURT. Just ask global mega distie Tech Data how it's going for them

The world's second-largest wholesale distributor of technology products, services and solutions, Tech Data, was not the first firm to restate its financial results – and it may not be the last. But in a post-Enron world, with the associated heavy controls and accounting rules introduced after that massive accounts fraud scandal …
Felipe Costa, 14 Aug 2014
Pano Pro enclosure for GoPro

GoPro's new lens: Like a GOOGLE STREETMAPS car... for your life

If you've taken the trouble to carry a camera around rather than using your smartphone, you certainly won't want to miss anything. GoPro's newest offering solves this problem by looking in every direction. Of course resolution suffers as you are spreading the pixels over a bigger image. The Pano Pro lens is a parabolic convex …
Simon Rockman, 14 Apr 2014
Dell Chromebook 11

Dell confirms Chromebook for Blighty

Dell has confirmed its first Chromebook will be coming to the UK, though it’s not yet saying how much the 11.6-inch Google laptop will cost over here. In the States, the Dell Chromebook 11 is “expected to sell below $300” (£183), the PC giant said today, so you’re probably looking at a retail price over here of £220 to £250, …
Tony Smith, 06 Jan 2014
Abacus. Credit: Newsum Antiques

The IT kit revolution's OVER, say beancounters - but how do they know?

One of the great problems within economics is in trying to work out what's a structural change, what's a cyclical change and what's being buggered up just because you're not measuring it properly. For example, we can look at how much companies (or more accurately, non-household entities) are spending on the computing …
Tim Worstall, 03 Sep 2014
Getac T800 pre-production sample

Reg gets sneak peek of Getac's chunky TOUGH AS NAILS 8.1-incher

Getac has been a major player in the rugged tech market for 25 years, offering tablets, laptops and even servers built to withstand serious physical abuse. The latest in the line is the T800 – a chunky compact 8.1-inch tablet available with Windows 7 or 8.1. Getac T800 pre-production sample Getac T800 pre-production sample, but …
Bob Dormon, 16 Apr 2014

Burnt-out Comet's VC backers are looking for more cash

The private equity firm involved in Comet's costly crash is back in the market and trying to convince financiers to part with hundreds of millions for a new investment fund. Henry Jackson, boss of OpCapita, the venture capitalist which paid £2 for the British retailer in November 2011 before sending it down in flames a year …
Paul Kunert, 11 Nov 2013
The Register breaking news

HMRC sets out standards for VAT software

HM Revenue and Customs (HMRC) has launched new guidelines for businesses wanting to use technology to file their VAT returns that it reckons could reduce errors in VAT reporting by as much as 25 per cent. The guidelines, published under the funky-sounding title "Publicly Available Specification 76", or PAS 76 - VAT for short, …
Lucy Sherriff, 10 Jul 2006
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Tories, retail ISVs decry Darling's VAT cut

George Osborne has described Alistair Darling's pre-budget report as the largest ever borrowing by a British government and leaving a tax bombshell timed to explode as the economy recovers. He proclaimed that "prudence is dead", and said PM Gordon Brown's claims to have abolished boom and bust were ludicrous. He said the …
John Oates, 24 Nov 2008
globalisation

HMRC gets new tool to battle VAT fraud

Computer chips and mobile phones will be subjected to a "reverse charge" VAT regime from June 1 this year in a bid to slash missing trader fraud. Her Majesty's Revenue and Customs (HMRC) said the reverse charge system should remove the ability "to steal VAT on business-to-business transactions", effectively preventing Missing …
Kelly Fiveash, 19 Mar 2007