HMRC’s new powers to tackle electronic sales suppression
The HMRC has issued advice about the new powers and penalties under the Finance Act 2022 to tackle electronic sales...
READ MOREIntegraFin Holdings plc (IHP), parent company of UK investment platform Transact, has been hit with an unexpected £4.3m VAT bill after HMRC challenged its inclusion of its Australian operations within its UK VAT group.
In a stock exchange announcement, IHP revealed it had received notice from HMRC about VAT paid by one of its companies, Australian-based Integrated Application Development Pty Ltd (IAD). HMRC said IAD's membership of a UK VAT group would be terminated with effect from 16 July 2016.
Read more at the Accountancy Daily.