New guidance for holding companies

New guidance for holding companies

VAT costs incurred by a holding company on the acquisition of shares have always been restricted by HMRC, but how has a European case made things easier? Update.  HMRC has finally published updated guidance on the ..
Errors on your VAT invoices

Errors on your VAT invoices

If you issue an invoice showing the wrong amount of VAT, it can have unfortunate effects for both you and your customer.  What do you need to do to put matters right? Get the VAT correct It ..
Zero Rating for e-books?

Zero Rating for e-books?

A key EU Parliamentary committee has changed its attitude toward harmonising VAT rates on e-books and paper books.  Are there any useful tips to take advantage of? Change of attitude. In June 2015, France and Luxembourg lost ..
VAT Evasion – HMRC considers direct deduction

VAT Evasion – HMRC considers direct deduction

HMRC is proposing new measures to combat VAT fraud by overseas businesses selling online into the UK.  What is it thinking? Overseas When goods are in the UK at the point of sale, overseas sellers are required ..
Disbursements – Costs you pay on behalf of a client and VAT

Disbursements – Costs you pay on behalf of a client and VAT

Some businesses pay costs on behalf of their clients - such as a conveyancing solicitor paying land registry fees.  What's the VAT position of these costs, what can you reclaim and when do you have ..
What checks do VAT inspectors really make?

What checks do VAT inspectors really make?

A VAT inspection can be stressful, but it will go much more smoothly if you are prepared and know what to expect.  What is the inspector looking for and what sort of checks are they ..
A visit from the VAT inspector

A visit from the VAT inspector

At some point every business will have a visit from a VAT inspector, but is it possible to ascertain when this is likely to happen?  How should you deal with an inspector and can a ..
Donations – Is VAT due on donated goods or services?

Donations – Is VAT due on donated goods or services?

If your business wants to donate goods or services to a good cause, there can be VAT traps for the unwary.  How can you use alternative strategies to avoid them and save yourself tax? Charitable Your business ..
Construction – Changes to planning rules affect 5% rate on building work

Construction – Changes to planning rules affect 5% rate on building work

The planning rules have been relaxed which makes it more difficult to obtain evidence to support the 5% reduced rate on some building work.  What evidence should you obtain? Reduced rate on building work The reduced rate ..
Mobile phones – VAT changing?

Mobile phones – VAT changing?

HMRC has published a policy paper explaining a change to the VAT treatment of mobile phone usage.  What do you need to know from November 2017? Current:  VAT is charged when you use your mobile phone ..