HM Revenue and Customs (HMRC) is today publishing its summary of responses to the consultation “VAT: Addressing Borderline Anomalies”. The consultation, launched on 21 March 2012, closed on 18 May 2012 and nearly 1,500 responses were received. The Government have set out some amendments to the initial proposals and further details are contained within the response document.
The changes to the VAT rules will be enacted through a new schedule to be introduced at the Report stage of the Finance Bill.
The summary of responses document is available on HMRC’s website and copies have been placed in the Libraries of both Houses.