- : Year 12, issue 03?issue=03&offset=2&volume=12

 
Should your charity choose a “design and build” contract? Publication date: 13.01.2022
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Building services to construct a new building are zero-rated if your charity certifies that it will wholly use the building for charitable activities. But what is the VAT position with the professional fees associated with the project?
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Planning consent VAT shock Publication date: 13.01.2022
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Planning consent VAT shock..The case. The project related to the demolition of a building and the construction of a new dwelling. However, at the time when CMJ started its construction work for the developer, the only planning permission in place related to the alteration and extension of the existing dwelling. The local authorities instead granted...
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Did input tax relate to taxable supplies? Publication date: 13.01.2022
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Did input tax relate to taxable supplies?..The case. ESD registered for VAT in August 2013, stating its activity was to renovate and develop properties. On an HMRC visit in 2016, the officer disallowed all input tax for periods January 2014 to October 2015, an amount of £324,065. During those periods, there had been no outputs declared on VAT returns...
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Can we claim VAT on goods purchased from Italy? Publication date: 13.01.2022
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Can we claim VAT on goods purchased from Italy?..Q. We trade as a restaurant and want to buy a pizza oven from Italy. Is there any way we can claim the Italian VAT being charged on the sale? A. You should not be charged Italian VAT because the goods are being exported from Italy to a country outside the EU. This is a zero-rated sale as far as Italian...
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How do tax points work with debt factoring? Publication date: 13.01.2022
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How do tax points work with debt factoring?..Q. Our business has started to use a factoring service to help our cash flow. We use the cash accounting scheme for our VAT returns. An important facility is that the factor company gives us 80% of the sales invoice value as soon as we issue it to our customers. Is this payment date the tax point for the...
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Changes to land and property supplies? Publication date: 13.01.2022
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The government issued a call for evidence in May 2021 about making major changes to the VAT rules for land and property supplies. What does this mean for your business?
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Can you claim VAT on the costs of your EU office? Publication date: 13.01.2022
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Your business supplies services to EU business customers and you have decided to rent an office in an EU country which will be used by your employees there. Your landlord will charge VAT on your rent. Can you reclaim this?
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Part-exchange value for VAT purposes Publication date: 13.01.2022
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Your business might sometimes agree to provide goods or services to a customer in return for other goods or services from them, rather than payment in cash, e.g. part exchange. How will you account for VAT in this situation?
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Penalties to be issued for late repayment returns Publication date: 13.01.2022
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Since VAT was introduced in 1973, there has never been a surcharge or penalty issued by HMRC for a VAT return that shows a net repayment. But that will change from 1 January 2023. What is the change and how can you avoid problems?
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Coronavirus precautions and first aid Publication date: 07.09.2020
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As the HSE has updated its online first aid guidance to take into account the risk of coronavirus transmission, we’ve made a few changes to our policy. What’s now covered?
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