VAT Blog
Latest news, thoughts and articles from the world of VAT.
Counting purchases as sales?
There was a really good question on the forum this week about the Place of Supply of Services (“POSS”) rules and reverse charge services. The question was how you account for reverse charge VAT if you aren’t registered for VAT. The answer is that there is no mechanism...
The Simple or Compound Argument
The recent decision of the Upper Tribunal (Tax and Chancery Chamber) in John Wilkins (Motor Engineers) Ltd, John Pudney Ltd trading as Horsham Car Care, Squire Furneaux Group, Robmar Ltd trading as Worthing Kia, Lookers plc, Upper Tribunal Tax and Chancery Chamber was...
Simple or Compound?
In the latest round of the simple or compound interest argument and in its first case, the Upper Tribunal (Tax and Chancery Chamber) has overturned the recent decision of the ECJ, the House of Lords and the High Court about how interest on overpaid tax should be...
Insurancewide/Trader Media Group Exemption ruling
HMRC has issued Revenue & Customs Brief 59/09 following the ruling of the High Court in the cases of Insurancewide and Trader Media Group. The cases concerned the VAT liability of “click thru” services and whether or not they qualified for exemption as insurance...
A Few Good Horror Stories
No good property section would be complete without a few good horror stories showing what happens when things go horribly wrong! So sit back and think "that could have been me"! Property portfolios A large manufacturing group had a property portfolio of over 50...
VAT & property: A Few Good Horror Stories
VAT & property: A Few Good Horror Stories: No good property section would be complete without a few good horror stories showing what happens when things go horribly wrong! So sit back and think "that could have been me"! Property portfolios A large manufacturing...
Using the Property Forum
The Forums on VATExchange include a dedicated section for property here https://vatexchange.co.uk/forum/2. This provides a couple of very useful resources: First a place to ask questions about VAT and property issues. As with any forum query, we'll do our best to help...
How VATExchange Can Help
What we can do at VATExchange is to help you deal with VAT and property issues in a number of ways: By listing the publications available on the HMRC website and summarising which subjects they cover so that you know where to start looking. We also list a few...
VAT and Property: A (VERY!) Short Technical Introduction
VAT and property: a short technical introduction So why is it exactly that VAT and property is such a difficult subject? To answer that question, we have to go back to basic VAT principles. And there are two that are particularly important. The VAT Liability of...
Special Schemes
Special schemes There are several schemes that are designed to make it easier for businesses to save time dealing with VAT. From the margin schemes to annual accounting, cash accounting and partial exemption, for both large and small businesses alike, there are plenty...
Partial Exemption
Partial Exemption affects so many business sectors, from property to education to financial services to retailers and many more. Here we've given some examples of businesses in different sectors and how using a VAT consultant reduced VAT loss and minimised the hassle...
Partial Exemption and different business sectors
Partial Exemption affects so many business sectors, from property to education to financial services to retailers and many more. Here we've given some examples of businesses in different sectors and how using a VAT consultant reduced VAT loss and minimised the hassle...
Dealing With VAT Assessments
One of the most important ways we can help with is dealing with VAT assessmets. Indeed it is often the only time an accountant or a business owner picks up the phone to ask for specialist VAT help and the first time that the client concerned has ever engaged a VAT...
Additional REsources
A Few Other Resources We’ve Created for Our Customers
Inter-company and intra-company transactions and VAT
We're getting towards the end of the calendar year and I'm already getting queries about VAT on year end management charges, so I thought it was a good time to revisit a very common subject area. Inter-company and intra-company transactions and VAT are one of the...
Pre-registration fixed assets VAT allowed in full
Pre-registration fixed assets VAT allowed in full: HMRC has issued R&C Brief 16/2016 http://tinyurl.com/h77xnw5 to clarify the position about VAT on fixed assets purchased before the date of registration. Over-zealous VAT officers... It seems that in recent years,...
VAT, cost sharing and disbursements and when to charge VAT
VAT, cost sharing and disbursements and when to charge VAT: One of the most common areas of confusion when sharing costs between associated businesses is whether or not you have to charge VAT. Typical examples would be when one group company contracts with third party...