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VAT outlook for 2020

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VAT outlook for 2020

Get 2020 vision for the VAT road ahead – in 20 mins!
Liz Maher OBE, Director, Centurion VAT Specialists

It’s amazing how time flies, it genuinely doesn’t seem a year since the last AoC Winter Funding conference but here we are!

I’m writing this on the late train back from speaking to the AAT branch in Manchester and it’ll come as no surprise I’m sure, that the topic of Brexit and the possible VAT implications was under discussion there as well as one I thought worth an update at the forthcoming AoC event in January.

Of course, life in the VAT world as elsewhere carries on irrespective of any Deal or No Deal Brexit implications. We’ve a general election to get through yet, and yes, I’ve seen VAT mentioned in a number of party manifesto statements already.

Changes still come out of the EU and the UK which affect our VAT processes. A recent bit of good news could well be the further deferral for Making VAT Digital implementation within the internal accounting processes of a business. It’s important to recognise that this is a deferral that does need to be applied for though – so it’s not a given.

Across the EU we are starting to see lower VAT rates applied to eBooks but there’s no news yet on the application of the zero rate here in the UK. Perhaps that’s being saved for a New Year announcement- it would be a nice start for 2020.

Either way it’ll be great to catch up with our friends across the FE sector in January at the conference and share the latest news.

Have a great Christmas before that though. Merry Christmas All from Centurion VAT!

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