- : Year 09, issue 07?issue=07&offset=2&volume=09

 
Buying a property using a separate business Publication date: 02.05.2019
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You are buying a business that includes the freehold of the trading premises. You would like to own the property in a different legal entity but the seller says they will need to charge VAT if you do this. How can you overcome this problem?
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Still time to enrol for MTDfV Publication date: 02.05.2019
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Making Tax Digital for VAT took effect on 1 April 2019, but only 17% of businesses required to submit digital returns had enrolled by this date. How much time do you have to enrol if you haven’t done so already?
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Can you claim input tax on assets carrying your logo? Publication date: 02.05.2019
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One of our subscribers claimed input tax on the purchase of a horse box on the basis that it advertises her business by showing the business name, logo and website address. HMRC is looking to disallow this. Who is right?
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Fundraising exemption - can non-charities benefit too? Publication date: 02.05.2019
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You may be aware that income from fundraising events organised by charities qualifies for a VAT exemption. But it also applies to other organisations as well. Could your organisation benefit from this opportunity?
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Reconciling your annual accounts to the VAT returns Publication date: 02.05.2019
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An HMRC officer has queried why the turnover figure in your annual accounts exceeds the outputs figures in Box 6 of your VAT returns for the same year by £180,000. HMRC wants to raise an assessment for £30,000. Can it do this?
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Ads can be linked to both taxable and exempt supplies. Publication date: 02.05.2019
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Ads can be linked to both taxable and exempt supplies...The case. JD Williams and Co Ltd (J) is a fashion retailer that has taxable income from selling clothes online and exempt income from interest earned on credit agreements. J had a long-standing partial exemption special method (PESM) in place with HMRC that meant marketing expenditure was apportioned...
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Claiming bad debt relief on VAT-only invoices Publication date: 02.05.2019
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You carry out repair work which is covered by insurance held by your customer. You invoice the net amount of the work to the insurance company and raise a VAT-only invoice to your customer. But what if the customer never pays this?
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Financial loss due to employee fraud is a reasonable excuse for default. Publication date: 02.05.2019
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Financial loss due to employee fraud is a reasonable excuse for default...The case. An employee of JCA Seminars Ltd (JCA) was found guilty of fraudulent behaviour by a court in 2017, and part of the fraud involved her deliberately overstating the turnover figures and therefore output tax declared on VAT returns between 2012 and 2016. The company incurred...
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Do we charge VAT when we sell taxis? Publication date: 02.05.2019
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Do we charge VAT when we sell taxis?..Q. We run a taxi business and own six cars. We are about to sell two cars to another taxi firm and are not sure whether we should charge VAT on the sale? A. The answer here is “it depends”. If you purchased the vehicles without being charged VAT, which would be the case with most second-hand vehicles, you will...
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Can we claim the VAT on entertaining costs? Publication date: 02.05.2019
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Can we claim the VAT on entertaining costs?..Q. My business provides management consultancy services and we have an important delegation of five people arriving in the UK from our main customer in Japan. We intend to treat them to a top sporting event, which will include lavish hospitality as part of a corporate package. There will be five members of...
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