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How much VAT should you charge on festive goods? Publication date: 27.10.2025
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Your business makes and sells goods that are specifically designed for the Christmas trading period and you are preparing for the busy season. What are the VAT issues to consider so that you declare the correct amount of VAT on your returns?
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Will HMRC charge interest on error, despite no tax loss? Publication date: 27.10.2025
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Will HMRC charge interest on error, despite no tax loss?..Q. The auditors of our company have identified that we invoiced an associated business £54,000 for “management services” in October last year and did not charge VAT. We have now issued a VAT-only invoice with a current date to the associated business for £10,800 and it will claim input...
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Reclaiming VAT on staff and customer gifts Publication date: 27.10.2025
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Christmas is approaching and your business is keen to reward loyal customers and staff who have contributed to a successful trading year by giving them a festive gift. What are the VAT issues to consider?
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Can you recover VAT if you aren’t making sales yet? Publication date: 27.10.2025
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One of our subscribers is currently working on a software solution through a new company, with a view to bringing a new product to market in a few years. They will be incurring significant costs in the meantime. Can they recover the VAT?
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Paying VAT when cash is tight Publication date: 27.10.2025
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Your business has suffered a major cash-flow problem caused by an unexpected bad debt. Your VAT return is due for payment and you do not have enough funds to pay on time. What can you do?
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Should you add VAT to grant income? Publication date: 27.10.2025
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You are the trustee of a VAT-registered charity that receives grants from local authorities. There is no VAT charged on these grants. But could they be subject to VAT and would this benefit your charity if that was the case?
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Revised HMRC policy for VAT recovery Publication date: 27.10.2025
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HMRC has issued new guidance about claiming input tax on management services for occupational pension funds. What does this mean for your business?
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Was late payment penalty correct when company was in credit? Publication date: 27.10.2025
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Was late payment penalty correct when company was in credit?..The case. ESC Studios Ltd (ES) was a film production company that submitted a repayment claim for £478,893 on its March 2024 return because three different films were being produced, with high input tax to claim. HMRC opened an enquiry into the return on 22 May 2024, withholding...
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Was HMRC assessment out of time? Publication date: 27.10.2025
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Was HMRC assessment out of time?..The case. The agent of Conservatory Insulations Northwest Ltd (C) submitted an error correction notice to HMRC on 15 July 2022 to notify input tax errors for periods September 2019 to March 2021. HMRC acknowledged receipt of the notice on the same day. In May 2023, the agent contacted HMRC because...
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Extending a house to sell: can we claim input tax on costs? Publication date: 27.10.2025
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Extending a house to sell: can we claim input tax on costs?..Q. My business usually builds bungalows and houses on bare land and sells the freehold interest for a profit. I claim input tax on all project costs because the sales are zero-rated. As a variation to our usual business model, we bought a house at an auction and extended it to double the floor...
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