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Reduced-rate VAT on building services when converting premises to a different residential use

26th April 2016

If you have ever looked in to the rules surrounding reduced- or zero-rate VAT and the building and construction industry (if you haven’t then it is an excellent way of spending a Saturday afternoon), you will have no doubt noticed that it is a veritable rabbit hole of specific situations, qualifying conditions, requirements and exclusions. Therefore I have taken it ...read more

HMRC vs Dental Practices – To Be VAT Registered or Not To Be

21st August 2015

Since 2006, dentists have been able to incorporate their businesses, and many have chosen to do so because of the benefits it can provide. However, some dentists discovered that the contracts they had with their local NHS trust could not be transferred to the newly created company. One solution to this problem is to continue to run both the old ...read more

Recession deemed ‘Reasonable Excuse’ for VAT penalty appeal.

10th September 2014

A tax tribunal judge has accepted a company’s reason for late payment of VAT liabilities as due to ‘factors flowing from the recession’. Scrimsign Micro-Electronics Ltd received three surcharge notices from HMRC for failing to pay their VAT bills on time. Despite the managing director appealing to HMRC that the company was suffering from financial difficulties attributable to the economic climate, ...read more

Our budget views in blue: VAT

22nd March 2012

-          New threshold is £77k -          Hot food if meant for consumption whilst hot (as opposed to kept hot for hygiene reasons or as part of preparation) was always standard rated. Now it is standard rated whatever the reason (apart from fresh loaves of bread) This is huge news for take-aways. This is probably as a result of the failed ...read more

VAT rate changes – should your business move to flat rate VAT?

19th November 2010

We had an interesting call with a client yesterday. He is not happy with the amount of VAT he is currently paying and doubly concerned about the increase in VAT from 4 Jan 2012 - to 20%. He asked me if there were any prospect of reducing is quarterly VAT figure. As a catering business with forecast turnover of £150,000 he ...read more