PROPERTY - 26.03.2024
VAT on variation and surrender fees?
You no longer need to occupy all floors of the building that you are renting. You are discussing several options to reduce your rental costs, including paying a variation fee to change the terms of the lease, but what are the VAT issues to consider?
Read more
CONSTRUCTION - 28.02.2024
Building certificates needed for 0% VAT
If you provide construction services on a new building to be used for a relevant charitable or residential purpose, or sell a new building to the users, your supply will be zero-rated. But what documents must you get?
Read more
RENTAL INCOME - 28.02.2024
What if you’ve lost your option to tax election?
You’ve signed a lease with a new tenant for the commercial property you’ve owned and rented out for six years. The tenant has asked for a copy of your option to tax confirmation letter from HMRC but you cannot find it. What should you do?
Read more
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?
Read more
LAND - 29.01.2024
Do we charge VAT on livery income?
Q. We are a VAT-registered farming business and own private horse stables that we have just started to rent out as a livery. We have not opted to tax our farm and will be providing bedding and feed for the horses but no grooming, care or exercising. It is classed as a DIY livery arrangement in the contracts. What proportion of the rental invoice, if any, should we charge VAT on? ...
Read more
OUTPUT TAX - 04.01.2024
Airbnb instead of buy-to-let: how will this affect VAT returns?
Your business has always let a dwelling on a buy-to-let basis but you have now decided to make it available for short-term lettings instead through Airbnb. What are the VAT implications of this change in activity?
Read more
