Tax Jobs in United Kingdom

Market context

Indirect Tax, primarily Value Added Tax (VAT), involves the taxation of goods and services at each stage of production and distribution. It is ultimately borne by the final consumer but collected by businesses acting as agents for the tax authority.

In the UK, VAT is administered by HM Revenue & Customs (HMRC), with a standard rate of 20%. Reduced rates of 5% and 0% apply to certain goods and services, and some activities are exempt. Businesses must register for VAT if their turnover exceeds a certain threshold (currently £90,000 as of 1 April 2024), and regular VAT returns (usually quarterly) are required.

Regulatory timeline

• 2024-04-01Change to VAT registration and deregistration thresholdsImplemented
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• 2022-04-01Extension of Making Tax Digital (MTD) for VAT to all VAT-registered businessesImplemented
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Skills & tools