- Minor amendments to the Value Added Tax Act 1996 have been implemented through the Value Added Tax Act 1996 Amendment Order 2024
- The amendments align customs and excise rules with those of the United Kingdom as required by the Customs and Excise Agreement 1979
- New powers granted to the Treasury under the DIY Housebuilders Scheme to request additional evidence for claims made on or after 24 May 2024
- DIY housebuilders must submit their VAT refund claims within 6 months of project completion
- Claims can now be submitted electronically with updated forms available on the website
- Amendments to VAT legislation affect the interaction between late payment interest and repayment interest ensuring proper operation of common period rules from 1 January 2023
- Caravans meeting the 2023 version of British Standard 3632 are eligible for zero rate VAT similar to earlier versions
- Zero rate VAT applies to residential caravans meeting size and standard criteria for year-round occupation effective from 17 June 2005
Source: gov.im
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.
