New process for some exports starting in Northern Ireland
Starting next month, businesses that import goods via Northern Ireland will need to change their processes. What do you need to know?
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Accounting for VAT if there is no cash payment
Your business has submitted repayment returns for the last two quarters and you are concerned that you might have underpaid output tax on some supplies where no money has changed hands. Are your concerns justified?
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Treatment of distributions under review
The government has launched a consultation on modernising the tax treatment of distributions and repayments of capital by companies. The proposals could affect the distinction between dividends taxed as income and capital payments subject to CGT. What changes are being considered?
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Tax relief on equipment you haven’t paid for (yet)
The timing of tax relief for purchases of equipment isn’t straightforward when payments are delayed or goods are purchased through hire purchase (HP) agreements. How can you use these rules to your advantage and get tax relief before you’ve paid the final invoice?
Currently, businesses that indirectly export goods from Northern Ireland (NI) use a process in the customs declaration service (CDS). From 15 December 2025, this will no longer be possible. For this purpose, the term “indirect export” refers to a movement of goods that:
- starts in NI; and
- departs the EU from a port of exit in an EU member state.
A movement of goods that starts in NI and departs the EU from NI is not an indirect export.
There are a number of alternative ways of moving the goods. Which will be appropriate will depend on the circumstances. The Chartered Institute of Taxation has published guidance discussing these, with useful links to various procedures.
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