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Tax UK
(?)

VAT margin scheme meeting: deadline for feedback is today

Last week we notified readers that the Institute is meeting with HMRC tomorrow to discuss the 31 October 2023 deadline for using the VAT margin scheme for second hand vehicles purchased from Great Britain and moved to Northern Ireland before 1 May 2023. Sales of such vehicles after the end of the VAT margin scheme on 31 October 2023 will mean that VAT must be charged on the full selling price. These vehicles do not qualify for the VAT related payment scheme which commenced on 1 May 2023. Today is the deadline for providing us with supporting evidence that many of these vehicles are currently unsold and are expected to remain unsold on 31 October 2023. A reminder of the evidence that HMRC is seeking is set out below.  HMRC has requested details or estimates in respect of the following:- The numbers of second-hand vehicles dealers in Northern Ireland had in stock on 1 May 2023 that were sourced from Great Britain;  How many of these remain unsold at present, and their estimated value;  How many are likely to be unsold on 31 October 2023, and their estimated value; and  If there is any category of vehicle that may be particularly affected by having a cut-off date of 31 October 2023 after which the margin scheme could no longer be used.  We recognise that many dealers may not be able to provide all of the detail requested in such a short period of time, especially the category of vehicle, but any information or evidence to support the difficulties being experienced in selling these vehicles would be appreciated.  The meeting will also be an opportunity to discuss the new second-hand motor vehicle VAT related payment scheme. Feedback on the end of the VAT margin scheme and the new VAT related payment scheme should be emailed to the Institute by the end of today Monday 2 October 2023. 

Oct 02, 2023
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Tax
(?)

EU exit corner – extension to the Trader Support Service announced and key elements of the Windsor Framework commence

In this week’s EU exit corner, we bring you the latest guidance updates and publications relevant to EU exit. We also update you on recent developments in relation to the Windsor Framework and the latest Trader Support Service (“TSS”) bulletin is also available. Last week it was  announced that the TSS is being extended one further year to 31 December 2024. The Institute has been lobbying for a further extension to the TSS and welcomes this decision but will be considering what permanent supports are needed in this area in future.  Update on the Windsor Framework  Last week HMRC published further details on the Windsor Framework as some significant elements of it began to take effect from the end of September.   From 30 September 2023, the new UK Internal Market Scheme expanded the range of businesses able to benefit from the new arrangements provided to protect internal UK movements, including the removal of EU tariffs. In tandem, the new sanitary and phytosanitary “green lane” arrangements took effect, including the new Retail Movement Scheme for agrifood retail products, new rules to allow plants to move into Northern Ireland and new arrangements to enable seed potatoes to move once again from Great Britain to Northern Ireland. As these changes bed down in the coming weeks and months, contact us to share your feedback and any problem areas which arise.  Miscellaneous updated guidance etc.   The following updated guidance, and publications relevant to EU exit are available:-  Customs declaration completion requirements for goods subject to sanitary and phytosanitary checks under the Northern Ireland Protocol;  Draft Decision No 1/2023 of the Specialised Committee on Participation in Union Programmes under the Trade and Cooperation Agreement adopting Protocols I and II and amending Annex 47 to the Trade and Cooperation Agreement;  Third Trade Specialised Committee on Customs Cooperation and Rules of Origin Agenda;  Using the Trader Dress Rehearsal service;  List of customs training providers;  Making an import supplementary declaration;  Making a simplified frontier declaration;  Making a full import declaration;  Data Element 2/3: Documents and Other Reference Codes (Union) of the Customs Declaration Service;  Receive goods into and remove goods from an excise warehouse (Excise Notice 197); and  Paying additional excise duty for goods moving to Northern Ireland.   

Oct 02, 2023
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Brexit
(?)

Institute meeting with HMRC on 31 October 2023 deadline for second-hand motor vehicle VAT margin scheme – we need your help

Next week representatives from the Institute’s Northern Ireland Tax Committee and a number of VAT specialists from local member firms are meeting with HMRC’s VAT policy team to discuss the end of the second-hand motor vehicle VAT margin scheme on 31 October 2023. We need your assistance in gathering supporting evidence to lobby for an extension to the scheme’s deadline. Read below for the supporting evidence requested by HMRC. The meeting will also be an opportunity to discuss the new second-hand motor vehicle VAT related payment scheme. Feedback on the end of the VAT margin scheme and the new VAT related payment scheme should be emailed to the Institute by the end of Monday 2 October 2023. As advised earlier this month, only vehicles moved from Great Britain to Northern Ireland before 1 May 2023 which are sold by 31 October 2023 qualify for the VAT margin scheme; if sold after 31 October 2023, VAT will need to be charged on the full selling price of the vehicle, and not the margin made. We are aware that many second-hand car dealers have significant pre-1 May 2023 stock of these vehicles, which are selling very slowly due to the ongoing inflationary crisis and general economic conditions.   If sold after 31‌‌‌ October 2023, VAT must be accounted for on the full selling price of the vehicle as the conditions for the new second-hand motor vehicle payment scheme, which only applies to eligible motor vehicles moved from Great Britain to Northern Ireland after 30 April 2023, will not be met.  The Institute highlighted this issue to HMRC earlier in the month; as a result, HMRC has requested details or estimates in respect of the following:- The numbers of second-hand vehicles dealers in Northern Ireland had in stock on 1 May 2023 that were sourced from Great Britain; How many of these remain unsold at present, and their estimated value; How many are likely to be unsold on 31 October 2023, and their estimated  value; and If there is any category of vehicle that may be particularly affected by having a cut-off date of 31 October 2023 after which the margin scheme could no longer be used. We recognise that many dealers may not be able to provide all of the detail requested in such a short period of time, especially the category of vehicle, but any information or evidence to support the difficulties being experienced in selling these vehicles would be appreciated.

Sep 25, 2023
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Tax UK
(?)

This week’s EU exit corner, 25 September 2023

In this week’s EU exit corner, we bring you the latest guidance updates and publications relevant to EU exit. We also update you on recent developments in relation to the Windsor Framework and the latest Trader Support Service bulletin is available. The Institute was also in attendance last week at the latest UK Domestic Advisory Group meeting. Windsor Framework update The House of Lords Protocol Sub-Committee on the Protocol is holding a follow-up evidence session on the implementation of the Windsor Framework. The UK Government has also now responded to the Committee’s report published in July. Various pieces of secondary legislation (set out below) have recently been published to implement the Windsor Framework and specifically the new trade operating model including the green and red lanes for agri-food and retail scheme which are due to commence later this week from 1 October. The House of Commons Library has published a briefing on the new rules for trading with the EU. The secondary legislation published is as follows:- Windsor Framework (Retail Movement Scheme: Public Health, Marketing and Organic Product Standards and Miscellaneous Provisions) Regulations 2023; Windsor Framework (Enforcement etc.) Regulations 2023. Windsor Framework (Retail Movement Scheme) Regulations 2023; Windsor Framework (Plant Health) Regulations 2023; Customs (Northern Ireland) (EU Exit) (Amendment) Regulations 2023 Windsor Framework (Financial Assistance) (Marking of Retail Goods) Regulations 2023; and Postal Packets (Miscellaneous Amendments) Regulations 2023. UK Domestic Advisory Group meeting Last week, the Institute was represented at the latest Domestic Advisory Group (“DAG”) meeting. The UK DAG is a consultative body designed to enable the government to hear from those most affected by the operation of the UK-EU Trade and Cooperation Agreement (“TCA”). The DAG has now established five sub-groups as follows, each of which reports back to the DAG on key issues with implementation of the TCA:- Trade and Customs; Regulatory Co-operation and Level Playing Field; Business and Labour Mobility; Energy and Climate Change; and Nations and Regions. Chartered Accountants Ireland participates in the Nations and Regions sub-group and would welcome your feedback on any issues specific to Northern Ireland. Readers are advised to note that the Windsor Framework is outside the remit of the UK DAG. In November, a further DAG meeting is scheduled to be held in advance of the annual UK-EU Joint DAG which the Institute will be attending. Miscellaneous updated guidance etc. The following updated guidance, and publications relevant to EU exit are available:- External temporary storage facilities codes for Data Element 5/23 of the Customs Declaration Service; Smart watch straps, watch bands and watch bracelets (Tariff notice 11); Transit newsletters — HMRC updates; Register with the UK ID issuer if your business is involved in the supply of tobacco products; Simplified rates for bringing personal goods into the UK; and Moving goods out of Great Britain using transit: step by step. Search the register of customs agents and fast parcel operators Transit newsletters — HMRC updates Delaying declarations for goods brought into Great Britain List of goods imported into Great Britain from Ireland that are controlled Moving qualifying goods from Northern Ireland to the rest of the UK; and Apply to use simplified declarations for imports.  

Sep 25, 2023
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Tax
(?)

This week’s EU exit corner, 18 September 2023

In this week’s EU exit corner, we bring you the latest guidance updates and publications relevant to EU exit and the latest Trader Support Service and Borders Weekly Stakeholder bulletins are also available. Miscellaneous updated guidance etc.   The following guidance, and publications relevant to EU exit are available:-  Known error workarounds for the Customs Declaration Service (CDS);  Classifying drones and aircraft parts for import and export;  Classifying electrical equipment for import and export;  Classifying tobacco for import and export;  Remote internal temporary storage facilities codes for Data Element 5/23 of the Customs Declaration Service;  Internal temporary storage facilities (ITSFs) codes for Data Element 5/23 of the Customs Declaration Service;  Maritime ports and wharves location codes for Data Element 5/23 of the Customs Declaration Service;  Data Element 2/3: Documents and Other Reference Codes (Union) of the Customs Declaration Service; and  Data Element 2/3: Document and Other Reference Codes: Licence Types – Imports and Exports of the Customs Declaration Service (CDS). 

Sep 18, 2023
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Brexit
(?)

Institute discussing VAT margin scheme vehicles 31 October deadline

If businesses have second-hand motor vehicles in stock that they bought in Great Britain and moved to Northern Ireland before 1 May 2023, the VAT margin scheme can only be used if those vehicles are sold by 31‌‌‌ October 2023. The Institute is discussing the impact of this deadline with HMRC, and the need to extend it.   We are aware that many second-hand car dealers have significant pre-1 May 2023 vehicles in stock which are selling very slowly due to the ongoing inflationary crisis and general economic conditions.   If sold after 31‌‌‌ October 2023, VAT must be accounted for on the full selling price of the vehicles as the conditions for the new second-hand motor vehicle payment scheme, which only applies to eligible motor vehicles moved from Great Britain to Northern Ireland after 30 April 2023, will not be met. 

Sep 11, 2023
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