VAT - 25.10.2023
New HMRC guidelines on mixed supplies
Some of your clients sell goods or services that would be subject to different rates of VAT if sold separately, or as a combined package for a single price. How will they know how much VAT to charge in these mixed supply situations?
OUTPUT TAX - 29.09.2023
Is there a problem giving staff free stock?
Your business buys and sells goods and it’s your policy to give some free items to staff. You also personally take some stock for yourself and your family. You amend your stock records for these but what should you do with the VAT?
PLACE OF SUPPLY - 31.08.2023
Design services for overseas customer?
One of our subscribers trades as an interior designer and their business has been invited to quote for two jobs in France, one for a business and the other for a private individual. How do the place of supply rules apply to these?
VAT CASES - 31.08.2023
Was VAT payable on agent fee for overseas football transfer?
The case. Sports Invest UK Ltd (S) trades as a football agency and acts for both clubs and individual players. In 2015 S handled a deal that involved a player being transferred from a Portuguese to an Italian club, which earned the company a commission of €4m from the buying club in Italy. S treated the deal as a business-to-business (B2B) sale of services to a non-UK business, so did not charge UK VAT on the payment. However, HMRC said that €3m of the fee related to a supply of services to the individual player because it was linked to his future salary payments; a business-to-consumer (B2C) deal would be subject to UK VAT. ...
DISCOUNTS - 27.06.2023
Can you offer discounts without issuing credit notes?
Your business wants to give some customers a special discount if they pay their invoices within 14 days. How should you deal with the VAT accounting to avoid issuing lots of credit notes every time you give a discount?
MIXED SUPPLIES - 03.05.2023
Improved guidance for mixed supplies
HMRC has completed a major consultation exercise about how a business should work out its output tax for mixed supplies. What might this mean for your business?