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  • Tips & Advice VAT - Buying a racing boat - what VAT can be recovered?
    Your business is considering buying a racing vessel. It will also pay for the upkeep costs. Can input tax be claimed on these costs if your business name and logo are promoted at, say, racing events and on the side of the vessel?
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  • Tips & Advice VAT - Can using a joint employment contract save VAT?
    If your business consists of two or more different legal entities, a VAT problem can arise if one business supplies workers to another. How could you rearrange your employee contracts to save VAT?
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  • Tips & Advice VAT - Theft leads to successful bad debt relief claim
    Theft leads to successful bad debt relief claim..The case. Total Catering Equipment Ltd (T) took customer orders for goods over the phone but a dishonest employee arranged for debit card payments to be paid into his personal bank account instead of the business account. When the problem was discovered, T proceeded with its VAT reporting by initially accounting for output tax on the stolen payments but then claiming bad debt relief (BDR) on a subsequent VAT return.The law. BDR under the VAT rules can be claimed...
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  • Tips & Advice VAT - VAT errors were both deliberate and careless
    VAT errors were both deliberate and careless..The case. Mr Scott (S) was a sole trader in the healthcare industry and the appeal related to a penalty of £11,671.54 issued following an HMRC compliance visit. This had identified a number of basic input and output tax errors that HMRC said had been made deliberately by S. The most bizarre error was that he accounted for no output tax on VAT returns submitted for the periods in question (between 2011 and 2015) but instead claimed the VAT charged on his sales invoices...
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  • Tips & Advice VAT - Is input tax repayable on materials and fees?
    Is input tax repayable on materials and fees?..Q. We are a house building business and recently completed a development of six new houses, which we are now struggling to sell. If we temporarily rent out three of the properties, earning exempt rental income, will we have to repay the input tax claimed on building materials and professional fees for these houses? A. The payback and clawback rules require input tax claimed on expenses where there was an intended taxable supply to be repaid to HMRC if the intended...
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  • Tips & Advice VAT - Is VAT due on charge unused services?
    Is VAT due on charge unused services?..Q. We provide consultancy services to the computer industry and charge our time in 15-minute units. If a client does not use our services for the minimum ten hours per year, we invoice the balance of time on 31 December annually. Should we charge VAT on this invoice? A. The question here is whether the final payment to bring the total time charge up to ten hours relates to a supply of services which is standard- rated or to a fine or penalty issued to the client for the...
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  • Tips & Advice VAT - Can you recover VAT on buy-to-let improvement costs?
    One of our subscribers lets out a flat above their shop. The business is VAT registered. They plan to spend £60,000 plus VAT improving the flat. Can they claim any input tax on this expenditure?
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  • Tips & Advice VAT - How to deal with VAT on packaging and delivery
    The growth in online sales of goods means that you might need to deliver them to your customer at either their home or business premises. How do you get the VAT right on any delivery or packaging fees you might charge?
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  • Tips & Advice VAT - Rule changes pushed back a year
    HMRC has postponed the introduction of the reverse charge for the construction industry until October 2020. What does this mean for your business?
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  • Tips & Advice VAT - What happens with VAT when you make extra charges?
    Your business might apply extra fees for, perhaps, late payments, or a breach of the terms of a deal. Restaurants often add a service charge when billing a customer. Are there ways of reducing VAT on these payments?
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