Wigs for teddy bears are subject to duty, but in a recent Upper Tribunal case it was ruled that ‘realistic” hearts used for a Build-A-Bear toy are duty free.
Tag Archives: VAT-did-you-know
A VAT Did you know?
Fruit flavoured Nesquik is standard rated, yet the chocolate flavoured drink is VAT free.
A VAT did you know?
Bye bye old VAT returns.
HMRC has revealed that it will retire the existing VAT online filing system for VAT 100 forms from April 2021.
From that date, only the MTD method is possible and the original (the XML submission where a business logs into the HMRC portal) will be discontinued.