- : Year 13, issue 06?issue=06&offset=1&volume=13

 
Issues with online number checker Publication date: 04.04.2023
Article database
There are many reasons why you might want to check with HMRC that a VAT number for one of your suppliers or customers is genuine. What does the potential restriction on new registrations mean for your business?
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5% concession for non-charitable use Publication date: 04.04.2023
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Your charity intends to construct a new building which will be used for its charitable activities. However, the trustees want to use part of the building to generate income to pay some of the building overheads. Does this create any VAT problems?
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Are your post-Brexit VAT returns correct? Publication date: 04.04.2023
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It’s now more than two years since the UK left the EU, which changed the way that you account for VAT on your international trading in goods, including using postponed VAT accounting. Now is a good time to review your procedures. What should you check?
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Join cash accounting despite high sales? Publication date: 04.04.2023
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Your business would like to join the cash accounting scheme (CAS) to help VAT cash flow but you think that you are ineligible because your annual sales exceed the joining threshold. But are you missing some tricks with the joining rules?
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Were deliberate behaviour penalties justified? Publication date: 04.04.2023
Article database
Were deliberate behaviour penalties justified?..The case. ATN Marketing Ltd (A) was issued with assessments for £112,537 and £52,228 in 2015, which related to input tax errors relevant to past supplies of exhibition space at various events. HMRC judged that A knew that the overclaims were incorrect at the time the returns were submitted and that a...
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Could company claim input tax on car purchase? Publication date: 04.04.2023
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Could company claim input tax on car purchase?..The case. London Drylining Ltd (L) purchased a new Audi Q5 in July 2019 and claimed input tax of £9,052 on its August 2019 return. HMRC disallowed the claim on the basis that there was nothing to stop the vehicle from being made available for private purposes, and issued an assessment. The director...
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Reverse charge for construction industry: what’s the 5% disregard rule? Publication date: 04.04.2023
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Reverse charge for construction industry: what’s the 5% disregard rule?..Q. I am a subcontractor in the construction industry, doing joinery work for building contractors. My work is subject to the reverse charge where I don’t charge VAT on my sales invoices and the contractor accounts for the VAT instead on their own return. However, a lot of my...
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Lease or buy business cars? Publication date: 04.04.2023
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Lease or buy business cars?..Q. Our business has always purchased new cars for the sales staff. However, I understand there is a VAT advantage in leasing rather than buying our vehicles. Is this correct? A. If you buy a car and are charged VAT by the seller, you can only claim input tax in two main circumstances. Firstly, where you use the vehicle as...
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Can you claim input tax on staff clothing? Publication date: 04.04.2023
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Your business is expanding and you’ve decided to buy new clothing for your employees to present a smart image. Can you claim the input tax on the associated costs?
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Interest if HMRC delays repayment? Publication date: 04.04.2023
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Your business has submitted a repayment return to HMRC but it’s delayed your refund by three weeks. You understand that you might get a 5% windfall because of the delay, but is this correct?
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