Children's facemasks are zero-rated for VAT: they are 'clothing', according to HMRC's Revenue & Customs Brief 11 (2022): ‘VAT and children’s face masks’. This sets out HMRC’s revised position in relation to children’s face masks and their VAT treatment.
Hello,
It has been another busy week in tax and politics as the new Chancellor Jeremy Hunt reversed most of his predecessor’s remaining mini-budget policies in his first Fiscal Statement on Monday.
On 17 October 2022 the Chancellor, Jeremy Hunt, made a fiscal statement reversing almost all tax measures announced at the Mini-budget on 23 September 2022, other than those that have already been legislated.
Hello,
Did you notice that the topic of ‘Net Zero’ was not mentioned in either the Chancellor’s Growth Plan 2022 (published at the mini-budget/fiscal event of September) or in the Prime Minister’s conference speech? It seemed odd.
The Department for Business Energy and Industrial Strategy (BEIS) has released a consultation ‘Net Zero: Call for evidence’. This is part of an independent review of the government’s approach to delivering its net zero target.
The Chancellor, Kwasi Kwarteng, has announced that he will be holding a 'Medium-Term Fiscal Plan' immediately following the publication of the Office for Budget Responsibility's (OBR) economic and fiscal forecast on 31 October 2022. He has brought forward this date; it had been previously announced in November.
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