- : Year 15, issue 09

 
Flat rate scheme: join now or never? Publication date: 23.06.2025
Article database
HMRC recently published a report about the advantages and disadvantages of the flat rate scheme for a small business. Could the report lead to the abolition of the scheme or a ban on new users?
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Was employee dishonesty excuse for late payments? Publication date: 23.06.2025
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Was employee dishonesty excuse for late payments?..The case. Purever UK Ltd (P) manufactures and supplies refrigeration units and was represented at the Tribunal by the managing director. The appeal related to default surcharges totalling £232,988 issued by HMRC for late payments in eight successive periods. The director said there was a “reasonable...
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Do we need to register for French VAT with new venture? Publication date: 23.06.2025
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Do we need to register for French VAT with new venture?..Q. Our business specialises in boxing and we plan to ship high-quality boxing gloves from the UK to France and then hire them out to local clubs in that country. Must we register for French VAT? A. Firstly, you will need to declare the shipment into France as an import of goods from outside the...
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Is VAT charged on the sale of our business? Publication date: 23.06.2025
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Is VAT charged on the sale of our business?..Q. After 25 years of trading as a fish and chip restaurant, my wife and I have decided to sell our business and retire. We trade as a partnership (registered for VAT) and the advice we have been given is that we will not charge VAT on the sale proceeds when we find a buyer, even though we claimed input tax...
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How much to charge on single package of goods? Publication date: 23.06.2025
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Your business intends to sell bundles of goods for a single price to encourage extra sales. Some goods are zero-rated, others standard-rated. How much output tax should you declare on each sale?
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VAT-saving opportunity with changes to the CGS? Publication date: 23.06.2025
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The government has announced that it will increase the capital goods scheme (CGS) threshold for capital expenditure on land and buildings from its current level of £250,000. What will the new threshold be, and how can you take advantage?
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How much will you save with reduced scale charges? Publication date: 23.06.2025
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HMRC has reduced the VAT fuel scale charge by nearly 6% for company-provided cars. When does the new reduced rate take effect and how do you make the calculations?
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VAT reduced on advance payment if customer cancels? Publication date: 23.06.2025
Article database
A subscriber supplies a three-stage training course to students that fully pay (non-refundable) in advance for all three stages. If the students drop out before the end, can our subscriber partly reduce the VAT paid to HMRC on their return?
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Should you revoke your 20-year-old option? Publication date: 23.06.2025
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Your business has let out a building to a tenant and it is now just over 20 years since you opted to tax the property with HMRC. Should you revoke it so that your tenant no longer needs to pay VAT?
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Was input tax correctly claimed on motorcycles? Publication date: 23.06.2025
Article database
Was input tax correctly claimed on motorcycles?..The case. Black Wolf Ltd traded as a locksmith. HMRC reviewed returns for periods February 2019 to November 2021 and identified that the company had fully claimed input tax on the purchase of three motorcycles, which HMRC alleged had been “fully private vehicles with no apportionment made for private...
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