This again shows how complex VAT can be in what might appear to be a straightforward situation. Crowdfunded Income A client is unable to trade normally due to the current restrictions and is considering using their staff and resources to … Continue reading VAT and Charitable Donations
Clients are applying for grants being made available by the government via local authorities and are wondering whether they need to treat this income as subject to VAT. HMRC have not spelt out the VAT implications in any of their announcements. … Continue reading Are Government Grants Subject To VAT?
Here, we explore the VAT implications of a restaurant providing delivered takeaways. The following scenario is relevant to many hospitality businesses and demonstrates the complexity of VAT and the need to take specialist advice. A client has … Continue reading VAT and Restaurant Delivered Takeaways
The Coronavirus pandemic has seen a surge in individuals growing their own produce at home or on allotments, and with garden centres re opening, many will want clarification on the VAT treatment of items such as grow-your-own herbs which come with a … Continue reading VAT and Plant Growing Kits
This is a common occurrence with all types of businesses whether you have not long started or have been trading for several years. As the owner your focus is often on marketing your business, making sure revenue is coming in so bills can be … Continue reading Case Study: What Happens If You Exceed The VAT Threshold?
Q: My client is a chef and has built up a successful website subscription service supplied to individuals. In return for the subscription payments, customers can sign in to the website, download PDF recipe cards, watch pre-recorded content and … Continue reading VAT Question Of The Week – VAT MOSS and No-Deal Brexit
If there is a “No-Deal” Brexit then there will be important changes to the VAT100 form. How many people actually understand what these changes are likely to be? HMRC propose that Boxes 8 and 9 change to include the value of all exports (8) … Continue reading Brexit Update – VAT Returns
Q: My client is an independent mortgage advisor, who is not VAT registered. Her turnover is above £85,000 and all of her income is either commission, which is paid by UK lenders, and flat fees received from customers seeking a mortgage. In the last … Continue reading VAT Question Of The Week – Financial Intermediaries
On 1st October 2019, changes are coming for those in the construction industry as the new VAT reverse charge system is introduced. Brexit will not impact this change as it is a domestic VAT rule. So here we aim to answer some FAQs for those that will … Continue reading VAT Domestic Reverse Charge For Construction – What You Need To Know.
Making Tax Digital Is Live Making Tax Digital (MTD) is live for VAT and has been since 1st April, and yet here we are 4 months on with business owners still struggling to comply, whether it's filing or making payments, only today business owners … Continue reading Are You Struggling with HMRC’s Making Tax Digital?
A client purchased a car for use in her business, which the dealer said was a qualifying car. My client took this to mean that she can recover the VAT but I disagree. Obviously, my view has not gone down well with the client, but am … Continue reading Vat Question Of The Week – Qualifying Cars
Q: A client is an insurance company, they are VAT registered and partially exempt (85% exempt/15% taxable). They have invested £200,000 in bespoke computer software. The software was written for them by an Israeli company, who are … Continue reading Vat Question Of The Week – Reverse Charge From Overseas