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Tax, VAT and Your Money News

Budget Update 2020: £100m Economic Recovery Fund to enable Isle of Man’s fightback from coronavirus pandemic

Treasury Minister Alfred Cannan MHK today announced a £100m Economic Recovery Fund and unveiled measures to protect jobs, secure investment and enable growth...
Tuesday, 21 July 2020

VAT Retail Schemes

This news release is issued to draw attention to information released earlier today for catering businesses using retail schemes. Catering businesses using...
Tuesday, 21 July 2020

Value Added Tax: Reduced rate of 5%

Following on from announcements made by the Treasury on 8 and 9 July 2020, the temporary reduced rate of 5% for certain supplies made by the hospitality...
Wednesday, 15 July 2020

Sanctions Notice: Financial Sanctions: Libya

This news release is issued to publicise a correction issued by HM Treasury’s Office of Financial Sanctions Implementation in respect of 49 listings in the...
Tuesday, 14 July 2020

Sanctions Notice: Financial Sanctions: Syria

This news release is issued to publicise a correction for two listings in the Syria regime, which brings the UK’s Consolidated List into line with Annex II to...
Friday, 10 July 2020

Financial Sanctions: Democratic People’s Republic of Korea (North Korea)

This news release is issued to correct an entry listing for the Democratic People's Republic of Korea sanctions regime. Council Regulation (EU) 2017/1509 has...
Friday, 10 July 2020

Sanctions Notice: Financial Sanctions: Libya

This news release is issued to correct an entry listed under the financial sanctions regime imposed on Libya. Council Regulation (EU) 204/2011 was amended so...
Friday, 10 July 2020

Financial Sanctions: Democratic Republic of the Congo

This news release is issued to correct two entries in respect of the Democratic Republic of the Congo. Council Regulation (EC) 1183/2005 has been amended so...
Friday, 10 July 2020

The end of the VAT deferral period

This news release is issued to draw attention to the end of the VAT deferral period. VAT payments could only be automatically deferred if they...
Thursday, 9 July 2020

Value Added Tax: Guidance on the temporary reduced rate of VAT for hospitality, holiday accommodation and attractions

Further information on the temporary reduced rate of 5% VAT for the hospitality industry, holiday accommodation and on admission charges to attractions...
Thursday, 9 July 2020
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