VAT Blog

Latest news, thoughts and articles from the world of VAT.

Property developers, VAT and COVID 19: READ THIS 

Property developers, VAT and COVID 19 As if there’s not enough to think about at the moment, property developers need to be extra careful with short term lets of new or newly converted domestic properties.  Or they could end up with unexpected VAT bills.  The property...

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Brexit, MOSS and the end of an era

So it's happening.  The UK is formally due to leave the EU at 11pm this Friday, January 31, 2020. This is a key event for the UK, particularly business owners who have to deal with the practical implications of Brexit. HMRC guidance HMRC has issued a LOT of guidance...

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You can ONLY claim VAT that has been correctly charged

I have tried to come up with an interesting and snappy title for this blog.  But I just can't think of one.  So I decided to go straight for the jugular and state the obvious: you can ONLY claim VAT that has been correctly charged. This means that VAT registered...

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Yes please, say thank you!

This is a very quick post to make a very simple point. Every week, I answer queries, free of charge, from all sorts of people, both businesses and private individuals. So even if the query is quite complicated, if I can deal with it in an initial telephone call or...

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The TOMS and serviced accommodation

VAT is a major issue for the SA sector, with many small operators trading in a very tight market.  But could SA operators who operate from leased properties save VAT if their business falls within the TOMS? The VAT issues involved are complex and you need to know how...

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Property developers, VAT and residential conversions

In the past few months, I've had queries from a couple of developers about claiming VAT on costs.  In both cases, the developers have converted old residential homes into apartments, selling or intending to sell long leases in the newly converted apartments.  They...

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What’s the real VAT cost of a property development?

If you want to avoid mistakes and unexpected VAT bills, you need to do the VAT planning for your development as part of the initial financial planning for the project.  It might seem obvious that the VAT cost of a development is the difference between the VAT you pay...

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Renovations and the confusion about the 5% VAT rate

The most common misunderstanding about VAT and renovations is when you can get the 5% reduced rate.  So I thought that I'd try to clear up the confusion. The basic rule is: If you are purchasing goods only, the retailer has to charge 20% VAT.  That's it.  And no, you...

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Property developers, VAT and COVID 19: READ THIS 

Property developers, VAT and COVID 19 As if there’s not enough to think about at the moment, property developers need to be extra careful with short term lets of new or newly converted domestic properties.  Or they could end up with unexpected VAT bills.  The property...

Brexit, MOSS and the end of an era

So it's happening.  The UK is formally due to leave the EU at 11pm this Friday, January 31, 2020. This is a key event for the UK, particularly business owners who have to deal with the practical implications of Brexit. HMRC guidance HMRC has issued a LOT of guidance...

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