CONNECTED PARTIES - 26.03.2024
Family loyalty: is your generosity causing a VAT problem?
A close relative has set up a new business that is not VAT registered. To help, you have agreed to pay their supplier of advertising services all costs for one year and claim input tax on your own returns. Has your generosity created a connected party problem?
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VAT - 18.03.2024
Leasing cars - what are the VAT pros and cons?
You’re considering leasing instead of purchasing cars for your business. This will improve cash flow and, according to the salesperson, allow you to reclaim VAT that you would not otherwise be entitled to. Are they correct?
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VAT - 08.02.2024
Reclaiming VAT on EU business trips
Your staff regularly travel to mainland Europe for conferences and to visit suppliers. When the UK was part of the EU, it was relatively easy to claim back EU VAT on travel costs but the process is much more difficult now. How do you make a claim?
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VAT - 06.02.2024
Personal ownership of business premises - VAT problem?
Your business is moving and you’re thinking of buying the new premises in your personal name, but there’s a possible drawback. Might personal ownership prevent recovery of VAT on costs relating to maintenance and improvement of the property?
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NOT-FOR-PROFIT ORGANISATIONS - 04.01.2024
Is VAT payable on charity donations to plant trees?
A subscriber is the trustee of an environmental charity. A fundraising appeal is asking for donations from supporters. One tree will be planted in a city centre for each £20 donation. Are the donations subject to VAT as a supply of services?
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INPUT TAX - 30.11.2023
Can we claim input tax on gym membership scheme?
Q. As part of our strategy to improve the health and fitness of our staff, we have signed a twelve-month contract with a local gym for corporate membership. The gym is VAT registered but can we claim input tax on the fee? A. If a sporting or recreational facility is provided to all employees - which is clearly the case with a corporate membership scheme - then input tax can be claimed on the expense without output tax being payable on the benefit provided. The expense is deemed to be for the business purpose of rewarding and motivating your staff. ...
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