Articles in "VAT"

Three schemes were launched on 1 July to deal with VAT on business-to-consumer supplies of goods and services to EU customers.

The Supreme Court’s recent decision in Balhousie Holdings [Balhousie Holdings Ltd v HMRC [2021] UKSC 11] indicates that care home operators (and other entities such as charities and universities) may be able to use sell and lease back arrangements to finance the construction of new buildings without incurring a significant VAT penalty.

If you are involved with the demolition or development of a building then consideration should be given to the VAT position and whether it can be reclaimed. Generally speaking, VAT costs would need to be incurred solely in relation to the making of taxable supplies whether they are currently being made or if there is an intention to make taxable supplies.

A recent Court of Appeal case has decided against two organisations that provided day care services.

Businesses that deferred VAT payments last year have less than a month left to join online and pay in monthly instalments under the VAT Deferral New Payment Scheme, HMRC has warned.

HMRC’s new VAT deferral payment scheme is now open to all eligible businesses, including those businesses using the Payment on Account and Annual Accounting schemes.

From 1 March 2021, if your VAT-registered business provides certain supplies of construction services to another business you may no longer need to charge them VAT. This is because your customer may need to account for it under the new domestic reverse charge for construction services.

Complicated new VAT rules post-Brexit are causing big headaches for both importers and exporters - and with a change in the system unlikely to happen, businesses are going to have to get to grips with the new VAT regime or else stop trading with the EU.