- : Year 15, issue 07?cookieChecked=1%2F%2F%2F%2F%2F%2F%2F

 
Should you agree to your customer’s self-billing request? Publication date: 30.04.2025
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A customer wants to adopt a self-billing system, meaning they will issue invoices on your behalf and charge VAT or otherwise. Can you refuse their request and what are the risks of accepting?
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Selling goods to the EU and Northern Ireland Publication date: 30.04.2025
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You plan to start selling goods to EU and Northern Ireland customers for the first time, to both businesses and private individuals. What VAT issues must you consider before you begin to trade?
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Does your VAT creditor figure agree with your returns? Publication date: 30.04.2025
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The VAT creditor figure recorded in your year-end accounts is higher than the tax payable on the return for the final quarter. What could have caused this problem and what should you do?
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Should you charge VAT on extra services to tenants? Publication date: 30.04.2025
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One of the subtenants in your building has asked you to provide them with more services as part of their tenancy agreement. If you agree, will this cause a VAT problem?
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Is there a problem if profits are moved between companies? Publication date: 30.04.2025
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One of our subscribers own a loss-making company and another that makes high profits. They want to issue an invoice for management services to improve the balance sheet of the loss-making company. What issues must be considered?
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Did company have reasonable excuse for late payments? Publication date: 30.04.2025
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Did company have reasonable excuse for late payments?..The case. Xcel Consult Ltd (X) submitted returns and paid tax late for all quarterly periods between July 2021 and October 2022, incurring default surcharges of £5,969. The director Mr Adeniyi (A) claimed that there was a reasonable excuse for the late payments due to three reasons: (1) X’s...
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Could delayed repayment be netted off against next return? Publication date: 30.04.2025
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Could delayed repayment be netted off against next return?..The case. The Jerk Yard Ltd (J) sold food at mobile food stands at various festivals and submitted its April 2023 return, a claim for £7,450, in August 2023. It should have been submitted by 7 June 2023 but there were delays with the company’s application to register...
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Do we charge VAT when we rent out a desk? Publication date: 30.04.2025
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Do we charge VAT when we rent out a desk?..Q. Our business allows one of our subcontractors to use a chair and desk at our office, he also uses our communal kitchen facilities and toilets. He pays us a fixed amount each week, irrespective of how much time he spends there. Should we charge him VAT on the fee? A. The starting point is that most supplies...
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Can we create a separate business for new activity? Publication date: 30.04.2025
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Can we create a separate business for new activity?..Q. My husband and I are VAT registered as a partnership and trade as a DIY store in a small town. We plan to expand our activities by selling Christmas trees but will only have sales in November and December and our total annual turnover will be less than the compulsory registration threshold. Should...
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Increase to penalty interest rates Publication date: 30.04.2025
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The penalties and interest rates charged by HMRC on late-paid VAT changed on 6 April 2025. How should your business act to avoid incurring the new charges?
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