- : Year 12, issue 10?issue=10&offset=2&volume=12

 
Did directors know that output tax would not be declared on invoices received from associated company? Publication date: 02.09.2022
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Did directors know that output tax would not be declared on invoices received from associated company?..The case. Grantham Ceilings and Interiors Ltd (GC) is a long-established construction company. In 2016, a holding company (GH) was formed, which held all of the contracts and received invoices from subcontractors working on GC jobs. It issued monthly...
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VAT fraud warning Publication date: 02.09.2022
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HMRC is targeting businesses that commit VAT fraud or don’t take active steps to prevent it from happening in their supply chains. What does this mean and what can you do to prevent a problem?
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Wrongly claimed input tax: use a concession Publication date: 02.09.2022
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HMRC has identified that one of your suppliers is no longer registered for VAT, so should not be quoting their VAT number on their sales invoices and you should not claim input tax. An assessment is likely, but is there a potential escape route?
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Option to tax: choosing the correct form Publication date: 02.09.2022
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If your business buys or rents out a non-residential property, you may want to make an option to tax election to save VAT. There is often confusion between forms VAT1614A and VAT1614H - which one must be used and when?
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VAT treatment of free samples Publication date: 02.09.2022
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Your business is keen to boost sales of goods in retail stores, so you have decided to provide free samples to your customers with retail shops, and let them hold your goods on a sale or return basis. How do you deal with VAT in these situations?
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Agent commission: will self-billing make things easier? Publication date: 02.09.2022
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A subscriber pays monthly commission to her UK agents that are registered for VAT. She wants to know if a self-billing arrangement might ease the admin caused by suppliers’ invoice delays. What are the pros and cons?
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Business or non-business: two new tests to consider Publication date: 02.09.2022
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HMRC has recently published new guidance that moves the goalposts in respect of when an activity is classed as business or non-business. What are these new tests and how will they affect your organisation?
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Was mix of zero and standard-rated sales wrongly declared? Publication date: 02.09.2022
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Was mix of zero and standard-rated sales wrongly declared?..The case. Mangio Ltd (M) sold hot and cold food and drink on a takeaway basis and had on-premises sales, trading from a small café area. The director admitted that there were weaknesses in the record keeping and there was some misunderstanding about whether some sales were standard or zero-rated....
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Can we claim VAT on contractor invoices? Publication date: 02.09.2022
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Can we claim VAT on contractor invoices?..Q. Our charity’s main activity is to plant thousands of trees in open woodland. Much of the planting is done by our volunteers but we also pay fees to three different contractors where more specialist skills are needed. Should the contractors zero-rate their invoices as we are a charity, or should we instead...
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Are walking tour fees subject to VAT? Publication date: 02.09.2022
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Are walking tour fees subject to VAT?..Q. Our business is already VAT registered as a florist and we are about to expand our activities and start offering walking tours around Oxford, charging a fee to each individual who comes on the walks. Should we charge VAT on these fees? I understand that we would not charge VAT on fees paid by overseas tourists....
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