- : Year 13, issue 07

 
Were retail sales of coal eligible for 5% VAT rate? Publication date: 03.05.2023
Article database
Were retail sales of coal eligible for 5% VAT rate?..The case. Adrian McKiernan (M) traded as a retailer selling coal, fuels and general household items. He charged 20% VAT on all sales and didn’t realise until an HMRC visit in 2019 that retail sales of coal up to one tonne qualified for 5% VAT under domestic de minimis rules. He submitted an error...
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Will services be zero-rated? Publication date: 03.05.2023
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Will services be zero-rated?..Q. My civil partner and I have decided to build a bungalow next to our farmhouse so that his elderly mother can live in it and be close to us. We have obtained planning permission for the project and have appointed a builder to start the work. The builder will supply labour and materials. However, there is a restriction...
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Am I using the right FRS rate? Publication date: 03.05.2023
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Am I using the right FRS rate?..Q. I trade as a health and safety consultant and I have used the flat rate scheme for many years because it means I do not have to keep input tax records. I have always used the category for management consultancy and paid 14.5% VAT on my gross sales. But I wonder if this category is correct because I am not trading as...
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Improved guidance for mixed supplies Publication date: 03.05.2023
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HMRC has completed a major consultation exercise about how a business should work out its output tax for mixed supplies. What might this mean for your business?
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VAT refund denied by “unjust enrichment”? Publication date: 03.05.2023
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You’ve discovered that an item sold by your business is zero-rated. You’ve charged VAT at 20% for the last five years, so want to claim an output tax rebate from HMRC. But will your claim be denied because of unjust enrichment?
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Should you set up a separate business for rental income? Publication date: 03.05.2023
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To boost cash flow, you’ve decided to rent out your private holiday home to temporary visitors through Airbnb. Will income from the short-term accommodation be subject to VAT and is it worth creating a separate legal entity?
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Are you completing the outputs box correctly? Publication date: 03.05.2023
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HMRC’s computer checks that the outputs and inputs boxes on your VAT returns appear credible. How can you reduce the risk of an HMRC compliance query due to problems with your Box 6 outputs figure?
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Entertainment: are there special rules for directors/owners? Publication date: 03.05.2023
Article database
You know that input tax can be claimed on the costs of entertaining your staff because they qualify as a business expense. But what is the situation with entertainment costs for directors and business owners?
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Can input tax be claimed on option fee to purchase land? Publication date: 03.05.2023
Article database
One of our subscribers has a deal with a local farmer, giving them first refusal to purchase ten acres of land if the farmer decides to sell it in the next ten years. Is the farmer right to charge VAT on the fee and can our subscriber claim input tax?
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Were dating agency’s services “consultancy”? Publication date: 03.05.2023
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Were dating agency’s services “consultancy”?..The case. Gray and Farrar International LLP (G) trades as a high-end dating agency, with its main activity being to find long-term romantic partners for its worldwide clients. For the club service, clients signed up to a twelve-month period of active membership, giving them up to eight introductions...
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