Care Homes: Looking beyond the VAT rules
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’.
Company car rules
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.
VAT Alert - Knowing if you need to register for VAT when the business entity changes
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?
CIOT calls on government to rewrite unfair VAT rules
The Chartered Institute of Taxation (CIOT) is calling on the government to address unfair tax rules as interest rates on late payments rise.
HMRC late payment interest cut by 0.25%
HMRC has reduced late payment and repayment interest rates following the cut to the base rate.
HMRC launches VAT Registration Estimator
HMRC has launched a digital tool to help businesses estimate what registering for VAT may mean for them.
Interest and partial exemption
Whilst the rise in bank interest is welcome news to some, for others it could have an unexpected VAT implication.
HMRC VAT applications only accepted online
From today (13 November), HMRC will no longer be accepting a paper VAT 1 form for VAT applications and will only be accepting online VAT applications.