This is a way of dealing with your VAT payments that HMRC brought in as a measure to make it easier for taxpayers to complete their VAT returns. Instead of doing them in the ‘normal’ way – pay over VAT on income, less VAT on expenditure, a business is able to take the gross … Read more Flat Rate Scheme
Pre-registration input VAT For those who are not aware of the concept, this is VAT spent out on goods and services, purchased prior to a business registering for VAT. For years, this VAT has been claimable – up to four years before the registration date for goods; up to six months for services. Therefore a … Read more Pre-registration input VAT
For years, HMRC maintained that a dwelling can only comprise one building. Now, however, they do accept that a dwelling can have more than one building. There are conditions, of course, for which see Revenue & Customs Brief 13/2016. The difficulty with it is that, as ever, they pass the onus on to the contractor … Read more What is a dwelling?
To give it its full name, this stands for Mini One Stop Shop – although why HMRC would want to associate themselves with a corner shop, we’ll probably never know. The concept, however, has its roots in the behaviour of the largest companies in the world. It probably started with internet providers, many in the USA, … Read more MOSS
For once, good news emanating from HMRC, who have just re-written their internal guidance on the topic of construction – their reference V1-8A. Within it, they state that double glazing and secondary glazing can, potentially, be zero rated as alterations. This is wonderful news as they have hitherto refused to accept zero rating, except in very limited circumstances. To … Read more VAT & listed buildings – possibly some good news!
Thankfully, the Budget was devoid of many significant VAT changes. OK, the VAT rate is going up to 20% on 4 January 2011 but that is as exciting as it gets. That gives us time to prepare, and as with the January 2010 rise of 2½%, did we really notice? Full marks to the Chancellor, … Read more Budget 2010 – VAT changes
HMRC have announced a policy revision with regard to pay-per-click advertising, supplied on third party websites. In an unaccustomed burst of keeping up with the times (well, almost), HMRC accept that this is advertising and that it can be zero rated. Clearly, as the law hasn’t changed, charities are advised to go back to the … Read more Charity advertising & VAT
As you may be aware, the VAT rate is going back up, from 15% to 17.5% with effect from 1 January 2010 – that is, from 00.01 on New Year’s morning. So do pubs and clubs and hotels have to ‘cash up’ when they hear the bells? Should they take a “Z” reading in the … Read more New Year 2009/10 – VAT rate change
I have been asked to participate in the National Home Improvement Show at Earls Court in London, which takes place between the 2nd and 4th of October 2009. I will be part of the Listed Property Owners Club stand, in the Period Living Pavilion, and also presenting a short talk about VAT relief for heritage … Read more National Home Improvement Show – Earls Court
Ah, yes, the Budget. I was in the Highlands of Scotland on Budget Day, and was fortunate to be able to find Internet access in a pub, an hour or two after the Chancellor sat down. The fact that it’s taken me several weeks to comment on it might give you a clue as to … Read more Budget 2009