VAT Blog

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: 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: 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...

I've recently been appointed to act on behalf of one of my continental clients for Irish VAT.  The process has been lengthy, as these things usually are, but no problems or unexpected delays.  But it has got me thinking about Brexit, VAT and what happens next for VAT...

Why you should avoid paying £250,000 for land or buildings.  There are lots of good reasons for avoiding certain payment points, whether for tax purposes, stamp duty, or simply because of your budget. And here’s another one: £250,000. So why? It’s because £250,000 is...

VAT on cars, the law and trivial matters: de minimis non curat lex. It's a generally well know fact that VAT can't be claimed on company cars if they are used for any non-business purposes.  There are certain specific exclusions such as new cars for resale, taxis and...

Today, I'm tackling the complex issue of claiming VAT and how this interacts with the option to tax for speculative property developers.  If you understand how the main principles work, this will help you to understand that claiming VAT on costs isn't simply a case of...

Not another VAT newsletter: September 2016. I hope you've all enjoyed what is probably our last blast of summer this week!  In the meantime, there are plenty of topical VAT issues to think about. The pros and cons of VAT group registrations HMRC recently issued...

It seems like a lifetime ago since the option to tax was introduced into UK law and I think it's a good time to remind ourselves about revoking the option to tax under the 20 year rule. But let's go back to basics and the purpose of "opting to tax".  At the time, it...

Article: VAT on Intercompany services, management charges and overhead costs. One of the most common VAT queries is whether VAT should be added to intercompany services, management charges and overhead costs; typically the charges made by a parent company to...

The VAT1614D prodecure: the FAQs.  If you’re buying an old barn or pub to convert into your home, or buying an office block to convert into luxury apartments, you can avoid (legally!!) paying VAT on the purchase even if the vendor has opted to tax the property. How?...

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...