- : Year 13, issue 01

 
Rounding windfall with the standard method Publication date: 27.10.2022
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One of our subscribers uses the partial exemption standard method but did not realise that her percentage claim is rounded up to the nearest whole number. What does this mean and how can she correct the error?
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Did building work on empty house qualify for 5% VAT? Publication date: 27.10.2022
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Did building work on empty house qualify for 5% VAT?..The case. Northchurch Homes Ltd (N) claimed that building work it carried out on a house should be zero-rated on the basis that it had been completely demolished and rebuilt, with only a single façade being retained. However, other aspects were retained, including the front slope of a roof and other...
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COVID and childbirth: reasonable excuse for late VAT payment? Publication date: 27.10.2022
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COVID and childbirth: reasonable excuse for late VAT payment?..The case. Hawksmoor Construction Ltd (H) paid its VAT late for September 2020 and March 2021 periods, so was subject to a 5% default surcharge of £2,252 when it partly paid the tax late on its June 2021 return. The sole director claimed that his absence from work for three weeks...
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Is there VAT to claim on Uber rides? Publication date: 27.10.2022
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Is there VAT to claim on Uber rides?..Q. Our business often uses the services of Uber. All of the trips relate to business. My understanding is that Uber now has to account for 20% VAT because it is - a big international company - providing the rides rather than the self-employed drivers it uses. The drivers would not be VAT registered because their...
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Can the sale of a commercial property qualify as a TOGC? Publication date: 27.10.2022
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Can the sale of a commercial property qualify as a TOGC?..Q. My wife and I jointly own a commercial property, which we have always rented out to tenants. We charge VAT on the rent because we opted to tax it when we bought it 2012. We are now selling the property to an investor, but we only have a tenant in situ on one of the three floors of the building....
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Ensure your invoicing systems are compliant Publication date: 27.10.2022
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Your business has continued to issue paper sales invoices to your customers, as well as electronic invoices sent by email. With MTD for VAT now compulsory for all VAT- registered businesses, are your procedures acceptable to HMRC?
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CAS pitfalls: net payments and barter deals Publication date: 27.10.2022
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Your business uses the cash accounting scheme (CAS) and accounts for output tax by treating your gross bankings figure as inclusive of VAT. All of your sales are standard-rated but is there a risk that you have underpaid VAT here?
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What’s the VAT treatment of gifts to staff? Publication date: 27.10.2022
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You want to reward staff for meeting certain targets. Instead of giving them a cash bonus, you will provide them with free goods from your retail stock. What are the VAT issues for your business?
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What’s the procedure to reclaim overseas VAT? Publication date: 27.10.2022
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Your business has paid VAT in another country. However, to reclaim the overseas VAT you need a certificate of status from HMRC. What are the procedures for getting this certificate and how long will you need to wait for it to be issued by HMRC?
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Online form now available for errors Publication date: 27.10.2022
Article database
HMRC has launched a new digital form so that a business can easily disclose errors made on previous returns. What does this mean for your business?
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