VAT refunds by manufacturers
Posted on 28 Dec 2022
Following yesterday’s publication of the summary of responses received to the VAT treatment of refunds made by manufacturers consultation, HMRC have today published a Tax Information and Impact Note (TIIN). This describes how UK law will be amended from 1 April 2014 to allow suppliers to adjust their VAT to take account of refunds they make to final consumers, including those made as part of business promotion schemes report Harris & Co accountants Northampton who advise many small and medium sized businesses on VAT issues.