How to fix VAT

In this episode we’ll be talking about the problems with VAT and why ICAEW is launching a new campaign, How to Fix VAT.

Introduced in the UK some 50 years ago, VAT is now the UK’s third largest source of tax revenue, behind income tax and national insurance contributions. But, it can be costly and complicated to comply with, and that’s despite previous efforts at simplification.

Links

• The complicated and costly world of VAT
  https://www.icaew.com/insights/tax-news/2024/oct-2024/the-complicated-and-costly-world-of-vat 
• The ups and downs of the VAT registration threshold
  https://www.icaew.com/insights/tax-news/2024/sep-2024/the-ups-and-downs-of-the-vat-registration-threshold 
• Progressive VAT: is now the time?
  https://www.icaew.com/insights/tax-news/2024/oct-2024/progressive-vat-is-now-the-time

Panellists

• Stephen Relf, Technical Manager, Tax, ICAEW
• Ed Saltmarsh, Technical Manager, VAT and customs, ICAEW
• Ruth Corkin, Principal, VAT and Indirect Tax Advisory, Hillier Hopkins

Producer

Ed Adams

Episode first published: 29 October 2024
Podcast recorded: 22 October 2024