HMRC published a revised VAT Notice 700/2 on 8 August 2014. Many of the changes are to the arrangement of text, however, a new section has been introduced to deal with the anti- avoidance rule in section 43(2A) of VATA which impose a reverse charge on particular types of intra-group supplies of services. The notice explains various circumstances where the reverse charge is used and the methodology for computation.
The notice also explains that registrations or changes in existing registrations are to be notified to HMRC using a VAT 53 form. The time limit for HMRC to respond to a new registration of a VAT group has been shortened from 15 to 10 days. Please click here.