Category: VAT

VAT Deregistration

November 2018

When and How to Begin the Process of VAT Deregistration These days VAT thresholds are the subject of much speculation, with the Government concerned that many business owners deliberately choose to stay below the VAT-registration threshold. Limiting your ambition in...

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Making VAT Digital Update

October 2018

We previously reported that from 1 April 2019, VAT registered businesses with a turnover above the VAT registration threshold (currently £85,000) will be required to keep digital records, and submit their VAT returns via the Making Tax Digital for Businesses...

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VAT Domestic Reverse Charge

October 2018

HMRC recently held a consultation requesting views on the proposed introduction of a reverse charge mechanism to combat VAT fraud in the construction sector. Following its conclusion and analysis of feedback, HMRC has published draft legislation in the form of...

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‘No Deal’ Brexit Advice has been Published by the UK Government

August 2018

The government’s first batch of advice for UK businesses in the event of a no deal Brexit includes help with both VAT and customs duty. Advice is for businesses to review supply chains, renegotiate contracts for higher duty costs and...

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VAT Refunds for Dealers Agreed with HMRC

July 2018

Our member firm, MHA MacIntyre Hudson have been working with a number of dealers to argue for a refund of VAT which we believed had been overpaid on dealer deposit contributions (DDC). After a long period of HMRC resistance, we are delighted...

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Zero Rate VAT & Construction Services

July 2018

Are you Sure the Law is on Your Side? It’s fairly widely known that the VAT Zero Rate applies to a variety of construction works. However, like many areas where VAT liability is an issue, it pays to be very...

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HMRC’s Student Accommodation VAT Challenge Fails

June 2018

Contractors, developers and planners, amongst others, can now be assured that they do not have to pay VAT to subcontractors with regard to new build student accommodation. Despite HMRC’s best efforts to overturn the decision with regards to VAT relief on...

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Capital Gains Tax for Non-UK Residents – FAQs

June 2018

Don’t Get Caught Out Are you a non-UK resident with a UK property portfolio or an ex-pat who has kept a foothold in the UK property market? Since April 2015, Capital Gains Tax (CGT) is now charged on the sale of UK residential...

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Making Tax Digital for VAT

April 2018

Making Tax Digital (MTD) for businesses will finally arrive on 1 April 2019. From that date, all VAT registered businesses with turnover above the VAT threshold (currently £85,000) will be required to: Maintain digital records (for VAT purposes only); Provide...

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Property VAT – Opt to Tax Explained

April 2018

If you have an interest in commercial property, whether freehold or leasehold, and use it for your own business purposes and do not rent it to others, it is generally unlikely that you will need to consider opting to tax...

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