UK Autumn Statement date announced - 22 November
The Chancellor will bring his Autumn Statement to the House of Commons on the 22 November 2023. Usual hopes for it to contain announcements on VAT and Environmental taxes that will help to simplify areas of complexities across these taxes.
This year, we'd specifically be hoping for news of changes to the way in which VAT affects the supply and installation of energy saving materials (ESM) - perhaps that newer technologies have been included on the qualifying materials list or even better that contracts which include qualifying ESM works can be apportioned to benefit from the zero VAT rate in place currently.
News on the ability to recover VAT costs from home charging electric vehicles used for business purposes has been on the cards for a while but nothing seems to appear - so perhaps now is the moment.
We'll share the hints beforehand but will produce a wider commentary on all areas not just Indirect Tax, as a part of our Xeinadin Autumn Statement commentary.
As ever get in touch if Indirect Tax support is required in the meanwhile - Indirect Tax@xeinadin.com will find us or call 0330 124 7740.
This article is for information only and specific advice should always be sought as required.