- : Year 16, issue 05

 
Changes to charity donations Publication date: 02.03.2026
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New legislation will make it easier for your business to donate surplus goods to a charity without being hit with a tax charge. How will it work?
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Review how much VAT charged on sales? Publication date: 02.03.2026
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A recent Tribunal case ruled that HMRC’s logic was flawed in dealing with a “what is the supply” challenge. Does this mean you should check that you are charging VAT correctly on your sales if there could be doubt about what you are selling?
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How should you challenge an officer’s assessment? Publication date: 02.03.2026
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HMRC has published improved guidance about what action you should take if you disagree with an officer’s assessment or a tax penalty. How should you challenge the decision to get the assessment or penalty reduced or cancelled?
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Buying and selling land: should option to tax be delayed? Publication date: 02.03.2026
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A VAT-registered subscriber is buying some land and the seller will charge VAT. The subscriber will get planning permission to build dwellings and hopefully sell the land for a profit. What VAT challenges must they overcome?
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Can you claim input tax on goods you don’t own? Publication date: 02.03.2026
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Your business hires equipment that you must keep in good working order and you also pay for repairs to cars owned by your staff. What are the input tax issues that you must consider when you do not own these goods?
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Was there a “reasonable excuse” for submitting 17 late returns? Publication date: 02.03.2026
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Was there a “reasonable excuse” for submitting 17 late returns?..The case. Five Star (Development) Homes Ltd (FS) submitted monthly returns because it was a repayment trader. It was late filing returns for February 2023 to April 2023 and then September 2023 to September 2024, resulting in five points and twelve penalties of £200 each, i.e. £2,400....
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Could overpayments be corrected after more than four years? Publication date: 02.03.2026
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Could overpayments be corrected after more than four years?..The case. Express Brands Ltd (EB) submitted an error correction notice (ECN) to HMRC in September 2023, correcting output tax overpaid on returns for quarterly periods June 2014, March 2015, and then March 2016 to September 2019 inclusive, a total of £176,404. The sales had been subject to...
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Can we submit monthly returns? Publication date: 02.03.2026
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Can we submit monthly returns?..Q. Our business usually pays VAT to HMRC each quarter. However, we have purchased a plot of land and will construct a warehouse on it. We will sell the freehold when it has been completed. We will charge VAT on the sale but that could be twelve to 18 months in the future. The costs of builder fees, materials, professional...
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Must we leave the cash accounting scheme? Publication date: 02.03.2026
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Must we leave the cash accounting scheme?..Q. Our business has enjoyed a fantastic year, with annual sales of £1.7m excluding VAT for the last twelve months. All sales are subject to VAT and we use the cash accounting scheme (CAS) to boost our cash flow. As we have exceeded the scheme’s exit threshold of £1.6m, I understand that we must leave but...
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Cash accounting: are you claiming input tax too soon? Publication date: 02.03.2026
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If you partly pay your suppliers in advance, can you claim input tax on the part payment date if you use the cash accounting scheme or only when the goods have been delivered and a tax invoice issued by the supplier?
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