VAT Alert - Vehicle purchases
Many businesses purchase vehicles to support their day-to-day operations. Whilst it may be assumed that, as a vehicle is being acquired by a business to support their activities, the VAT incurred on the purchase costs would be recoverable, this is often not the case.
Change to partial exemption VAT treatment
The CJEU has considered a VAT case concerning the recovery of overhead VAT costs for a partially exempt business who supplied goods by way of hire purchase (the taxable supply) and the supply of credit (the exempt supply).
VAT alert: Domestic reverse charge on building and construction services
If your VAT-registered business provides construction services to another business you will no longer need to charge them VAT.
VAT deferment
The Chancellor has announced that VAT for the period 20 March 2020 to 30 June 2020 will not need to be paid during this quarter.
VAT alert - Digital publications
A recent Upper Tier Tribunal case has resulted in digital newspapers being judged the same as hard copy printed newspapers and therefore zero rated. Prior to the case, digital publications were seen by HMRC as standard rated.
VAT Alert: VAT on lost space of bathroom and washroom conversions for disabled people
There are some VAT reliefs for disabled people. These typically relate to goods, however certain building works also qualify for VAT relief.
The option to tax on commercial property - where it can go wrong
An ‘option to tax’ is a formal declaration made by a VAT registered entity which has an interest in a commercial property or land. The interest can be freehold or leasehold.