On 10 March 2014, new Regulations on the VAT treatment of refunds made by manufacturers as part of a chain of supply were made.
The Regulations require both the first supplier in a chain of taxable supplies in the UK and a final consumer at the end of that chain to adjust their VAT accounts where the consideration for the final supply in the chain has decreased.
Changes are also made to the notification scheme for motorised land vehicles arriving in the UK.
The Regulations come into force on 1 April 2014. For the Value Added Tax (Amendment) Regulations 2014 click here