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  • Tips & Advice VAT - Can you buy a property VAT free from your landlord?
    One of our subscribers rents a commercial premises and has the chance to buy it. The seller wants to charge VAT on the sale, which our subscriber wants to avoid, even though he could claim input tax. Is this outcome possible?
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  • Tips & Advice VAT - Reclaiming the VAT on staff accommodation costs
    It might be in the best interests of your business to provide free accommodation to some employees, perhaps to ensure that your premises are not left unattended overnight. But can you reclaim VAT on these expenses?
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  • Tips & Advice VAT - Changing business model: a chance to deregister?
    You are the treasurer of a local sports club, which is VAT registered. Annual taxable sales are £100,000 and VAT is a big overhead of the club. Why could changing the club’s business structure mean you could deregister and save money?
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  • Tips & Advice VAT - Avoiding a default when you can’t complete the return
    Your VAT return deadline is looming, but you have suffered an IT failure. All data has been lost, and it will take several weeks to re-enter it. What should you do to avoid defaulting in the meantime?
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  • Tips & Advice VAT - Do you charge VAT on work for overseas business customers?
    2020 marks the tenth anniversary of the rules surrounding the VAT treatment of international services. Usually, you won’t need to charge VAT to overseas business customers. However, what exceptions do you need to be aware of?
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  • Tips & Advice VAT - HMRC correct to block retrospective flat rate scheme registration
    HMRC correct to block retrospective flat rate scheme registration..The case. Holy Cow! Ice Cream Co Ltd (HC) applied to join the flat rate scheme (FRS) in August 2017, asking for the application date to be backdated to the VAT period starting 1 January 2017. HMRC refused because the March and June 2017 returns had already been submitted, so it was not possible for the time-saving benefits of the scheme to be enjoyed for these periods. HMRC allowed a start date of 1 July 2017. The company was unprofitable,...
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  • Tips & Advice VAT - Restaurant owner supressed sales
    Restaurant owner supressed sales..The case. The taxpayer (ES) traded as an Indian restaurant and HMRC alleged that it had deliberately suppressed its cash sales, leading to large assessments for both corporation tax (£136,849) and VAT (£73,219) plus penalties. The taxpayer denied suppressing any sales, but the evidence suggested otherwise. In May 2014, a team of HMRC officers made a covert visit to check the daily takings, and the actual figure of £2,457 was higher than any other Friday evening declared in...
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  • Tips & Advice VAT - Is advance invoicing a problem?
    Is advance invoicing a problem?..Q. Our business uses the cash accounting scheme. We want to sublet part of our factory premises to a tenant, charging VAT on the rent. We will raise a sales invoice to the tenant on 25 March each year, showing the total rent due for the twelve-month period starting on 1 April thereafter. The tenant will pay the rent on a monthly basis throughout the year, and we will account for output tax on each payment as it is made. Does this arrangement cause a problem with the cash accounting...
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  • Tips & Advice VAT - Can sales to account customers be excluded?
    Can sales to account customers be excluded?..Q. My shop trades as a builder’s merchant and we account for VAT by using a point of sale retail scheme based on our daily gross takings figures. We have a number of account customers who buy goods from the shop but don’t pay until 30 or 60 days later. We include the sale in the till when it is made but can we delay paying VAT until the customer settles their account? This would improve our cash flow, but also means we are not paying VAT in the event of a potential...
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  • Tips & Advice VAT - What’s the VAT treatment of a salary sacrifice?
    You offer your employees the option to reduce their salary in return for certain benefits, including for private usage of company vehicles. What is the correct VAT treatment, and do you need to add VAT to the private use charges?
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