HMRC finally published new guidance for the direct marketing industry in the updated versions of Notices 700/24 and 701/10 on 9th June.
Following on from this, industry representatives such as the Direct Marketing Association and Charity Tax Group have provided their own summary guidance to assist with understanding and complying with the new guidance.
Unfortunately, as always happens with these things, a glut of “information” then pops up on various online business forums and social media from people in the industry who are about as qualified in VAT matters as we are in quantum mechanics.
They regurgitate published guidance in to their own words and spout forth their own “recommendations” with less regard for whether they are actually being accurate so long as they garner an audience and some extra traffic to their website.
Even with the new information from HMRC there is still a lot of expertise involved in understanding it all and putting it in to practice. You wouldn’t go to the Doctor for VAT advice so why should you be any more inclined to take it from someone whose written a blog but has as much VAT expertise as a free range chicken?
As always with these matters the devil is in the detail. If in doubt seek professional advice!
