Articles in "VAT"

Charities and other qualifying bodies, such as non-profit making entities, have now received some clarity about the VAT liability of fundraising events.

As if like clockwork, the Wimbledon competition gets under way, and we see strawberries and cream everywhere! This year however, there’s a twist and it arrives in the form of a ‘Strawberry Sandwich’ which is M&S’ take on a Japanese fruit sando.

There is a special mechanism to recover VAT incurred on building, or converting a non-residential property into, a new home for you or a family member to live in. This is often referred to as a DIY VAT claim and is well worth exploring to recover some of the VAT costs that could otherwise be forgotten about.

Most VAT registered businesses have at some point queried whether they can reclaim the VAT on an expense. If the expense is a personal or non-business expense, the answer is usually ‘no’. If the expense is directly linked to goods or services that are subject to VAT at 0% 5% or 20%, then the answer is usually ‘yes’.

The rules surrounding company cars are not clear cut and easy, and there are many different aspects to consider. We will take you through each consideration and where this may or may not be a tax saving.

Usually, when there is a change to a business entity, such as a sole trader to a limited company, the question is often asked whether the company is taking on the sole trader business as a going concern?

The Chartered Institute of Taxation (CIOT) is calling on the government to address unfair tax rules as interest rates on late payments rise.

HMRC has reduced late payment and repayment interest rates following the cut to the base rate.