- The Autumn Statement did not contain much information on VAT and environmental tax.
- There were discussions about lowering the VAT registration threshold or doubling it, but no changes were made.
- There are potential reforms to the Zero VAT rate on Energy Saving Materials (ESM) and the inclusion of more qualifying materials.
- Charitable use buildings may qualify for ESM Zero rate relief, benefiting the education sector.
- The return of access to relief for charities is welcomed, but the scope and cost are uncertain.
- The VAT Retail Export Scheme will not be returning, but the government will continue to listen to calls for its return.
- Women’s sanitary products, specifically reusable period underwear, will be zero-rated for VAT from January 2024.
- The government will be consulting on the VAT treatment of private hire vehicles following a High Court case.
- There were no major announcements on environmental taxes, disappointing the environmental lobby.
- Most environmental taxes will see a nominal increase in rates.
- There may be a new Climate Change Agreement scheme from 2025, but the criteria for joining will remain stringent.
Source: centurionvat.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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