- : Year 15, issue 02

 
Does mark-up on disbursements create a VAT problem? Publication date: 27.11.2024
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One of our subscribers trades as a solicitor and they pass on various charges to their clients, described as a disbursement on their sales invoices. They make a small profit on some disbursements to cover administration costs. Is there a VAT issue?
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What’s a reasonable excuse for late payment? Publication date: 27.11.2024
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Your business has incurred a penalty from HMRC for paying VAT late on a return. You think this should be withdrawn because you had cash flow problems and key staff on long-term sick leave. What should you do to challenge the penalty?
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How much VAT do you charge on asset sales? Publication date: 27.11.2024
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You have decided to sell some equipment and machinery to generate much-needed working capital for your business. Will you always charge 20% VAT on these asset sales?
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Did London Pass qualify as a multi-purpose voucher? Publication date: 27.11.2024
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Did London Pass qualify as a multi-purpose voucher?..The case. Go City Ltd (GC) charged customers for a credits package which gave them the right of admission to certain attractions and events in London, e.g. museums and transport facilities. One credit was worth £1 with the London Pass and the customer could use the credits when and where they wanted....
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Was BMW X5 a pool car for restaurant business? Publication date: 27.11.2024
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Was BMW X5 a pool car for restaurant business?..The case. The company, BJ Shere Khan Star City Ltd (S), traded as a restaurant in an entertainment complex. It claimed input tax on the purchase and costs of a BMW X5 on the basis that it was a pool car that was used to “pick up and drop off staff” . This was apparently necessary because public transport...
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Will 5% VAT be charged on building work? Publication date: 27.11.2024
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Will 5% VAT be charged on building work?..Q. My construction business has been asked to do some renovation and improvement work on a multi-occupancy residential building which consists of six bedsits. The landlord has said we should only charge 5% VAT on our services because the property has been empty for 18 months. Is this correct? A. The answer...
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Is VAT charged on hire of classroom for meeting? Publication date: 27.11.2024
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Is VAT charged on hire of classroom for meeting?..Q. We trade as a private school and will need to register for VAT from January 2025. We have a long-standing booking from a community club who will hire one of our classrooms for its AGM in February 2025. Should we ask them to prepay the fee before 1 January so we don’t have to charge...
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E-invoicing: the VAT implications Publication date: 27.11.2024
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The government wants to promote the wider use of electronic invoicing across UK businesses and its own departments. What does this mean for your business?
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Is overseas supplier correct to charge VAT on imported goods? Publication date: 27.11.2024
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Your business has purchased goods from an overseas supplier who has charged UK VAT on their invoice, with the invoice noted as “DDP”. As there is no UK address for the supplier, only a UK VAT number, can you still claim input tax?
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Can you claim input tax on legal fees paid by your business? Publication date: 27.11.2024
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A recent tribunal case about claiming input tax on legal expenses was won by HMRC because the costs related to the individual rather than the business. What issues should you consider if you incur legal fees in the course of your business?
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