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25/10/2022

Zero Rating of Face Masks

HMRC have issued Brief 11 (2022) on 24 October 2022 to confirm that they now accept face masks that are designed for children under age 14 will qualify as an item of clothing and will therefore fall to be zero rated.

The Revenue are updating their general guide into the zero rating of children's clothing, Notice 714, to reflect this change of view.

As this is not a change of law, but simply a change of HMRC interpretation, it is open to academies that have charged VAT on the sale of face masks to make an error correction, subject to the usual time limits.

 

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Open post by hwbaccountants with ID 18160331038474151
Pillar Two reportingHMRC has now fully enacted the Organisation for Economic Co-operation and Development (OECD) Pillar Two global minimum corporate tax rules. These rules are intended to ensure that large multinational enterprises pay a minimum level of tax across the jurisdictions in which they operate.Read the full article here: https://www.hwb-accountants.com/hmrc-introduces-targeted-advance-assurance-service-for-rd-claims?utm_source=HWB+Audience&utm_medium=email&utm_campaign=6e7f0ed836-EMAIL_CAMPAIGN_2025_07_29_10_55_COPY_01&utm_term=0_-23b59ac81e-

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To read the full article follow this link: https://www.hwb-accountants.com/pillar-two-reporting

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Open post by hwbaccountants with ID 17982849986861999
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Open post by hwbaccountants with ID 18105762767511498
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