"An immensely useful resource"... "My only question is - why did we not subscribe before..." "Stunning" ...Read More Reviews

This Practical Tax Database and Virtual Tax Partner® Toolkit is your online tax partner. It answers all your key tax FAQs, is packed with useful and practical tax and business guidance.

The information gathered here is split into tax planning guides, FAQs, know-how and tools. With worked examples and tax compliance checklists.

Register to receive our FREE news update service.

Subscribe to UNLOCK the full site*.

Tax advice? Contact the Virtual Tax Partner® support service for advisers and their clients.

The contents of the site are subject to T & C & Copyright © 2021.

* The R&D & Patent Box zone is premium content and available separately.

Exemption for dental prostheses

Backdated to 1 January 2021

  • A VAT exemption will be introduced for imports of dental prostheses by registered dentists and other dental care professionals or dental technicians.

Free zones

From 3 November 2021, VAT legislation in free zones will:

  • Implement a free zone exit charge to prevent unintended tax advantages.
  • Ensure free zone rules and warehousing rules are mutually exclusive.
  • Amend existing legislation incompatible with the new free zone VAT rules.

Second-hand Motor Vehicle Export Refund Scheme

From Royal Assent in 2022

  • A second-hand Motor Vehicle Export Refund Scheme will be introduced for businesses that remove used motor vehicles from Great Britain for resale in Northern Ireland or the EU, allowing them to claim a refund of VAT following export.

VAT second-hand margin scheme: Northern Ireland 

Backdated to 1 January 2021

  • The VAT second-hand margin scheme will be extended to apply in Northern Ireland on a limited basis in respect of motor vehicles sourced from Great Britain. This will apply for vehicles registered prior to 1 January 2021 until the Second-hand Motor Vehicle Export Refund Scheme (above) is implemented.

Consultation: VAT treatment of fund management fees

  •  A new consultation will be opened on the simplification of VAT treatment of fund management fees.

Useful guides on this topic

Autumn Budget 2021: At a glance
A summary of key budget announcements together with items published without announcement.

Margin scheme
The VAT margin scheme allows businesses to calculate their output VAT liability on the profit margin they make on the goods they sell.


Oak ad
Are you enjoying our content? 

Thousands of accountants and advisers and their clients use www.rossmartin.co.uk as their primary TAX resource.

Register with us now to receive our unique FREE Tax Planning Tips and Advice Guide & our FREE OMB Newsletter.




Enjoying the Practical Tax content on www.rossmartin.co.uk? 

Sign up now to receive a unique FREE Tax Planning Tips and Advice Guide & our FREE Newsletter.

.Squirrel ad