- : Year 16, issue 03

 
“Use and enjoyment” rules for overseas customers Publication date: 16.12.2025
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One of our subscribers hires out goods and is confused about when or if VAT should be charged to overseas customers. Most customers are registered for VAT in their own countries. When should our subscriber charge VAT?
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Mandatory e-invoicing by 2029 Publication date: 16.12.2025
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A major consultation on e-invoicing will be launched, leading to compulsory adoption by all VAT-registered entities by 2029. What will it mean for your business?
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Was postal problem reasonable excuse for late payment? Publication date: 16.12.2025
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Was postal problem reasonable excuse for late payment?..The case. On 8 May 2024, HMRC sent a letter to MBP Europe Ltd (MBP), advising that it must make monthly payments on account because its VAT liability in the previous twelve months had exceeded the threshold for the payments on account regime (POA). It was obliged to make instalment payments...
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When must we account for VAT on long-term contract? Publication date: 16.12.2025
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When must we account for VAT on long-term contract?..Q. Our surveying business has agreed to provide quarterly reports to the owner of a commercial building that is being renovated over an 18-month period. Our work will last for six quarters, and we will be paid one sixth of the contract value after each quarterly report has been submitted to the owner....
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What are the benefits of the annual accounting scheme? Publication date: 16.12.2025
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What are the benefits of the annual accounting scheme?..Q. Our business uses the annual accounting scheme (AAS) but I’m wondering if it is necessary or useful in the modern world of Making Tax Digital. Are there any benefits in remaining in the scheme and, if not, how do we leave? A. The AAS means that your business submits one annual return rather...
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Can you delay issuing invoices to connected business? Publication date: 16.12.2025
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Your company has incurred costs that belong to a connected company, and your staff have also spent time doing administration and marketing work. You don’t want to charge the other company, but does this create a VAT problem?
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Can you claim input tax on costs linked to electric cars? Publication date: 16.12.2025
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Your business intends to go green and buy new electric cars. Can you claim input tax on the purchase of the vehicles and their subsequent fuel costs? Additionally, what recent change has been announced by HMRC?
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Can pro forma invoices help cash flow? Publication date: 16.12.2025
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Your business sells goods where there is sometimes a delay between the order and delivery dates. Should you amend your document processes in some cases and issue an advance pro forma invoice to your customers?
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Homeworking: claiming input tax on subsistence expenses? Publication date: 16.12.2025
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Some of your staff work remotely, but their homes aren’t suited to it. You have agreed to pay for rented office space, or for refreshments if they work from, say, a café. Can you claim input tax on these expenses?
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Did HMRC use best judgement on assessment for understated sales? Publication date: 16.12.2025
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Did HMRC use best judgement on assessment for understated sales?..The case. Mr Akhtar (A) traded as an off-licence and also sold groceries, cigarettes and lottery cards. HMRC made a compliance check in May 2022, where it was identified that till records and z-readings were not kept, even though the business had an electronic cash register. He was...
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