On 1 October 2019 the rules for accounting for VAT in the building and construction industry will change for some businesses. The change only affects supplies that are subject to VAT at the reduced rate or standard rate of VAT. As this is VAT we’re talking about, the change is anything other than straightforward. In essence, the customer will become responsible for paying … [Read more...] about Beep! Beep! This VAT is reversing…
builders
Recent updated VAT notices from HMRC – October 2013
Recent updated VAT notices from HMRC In the past couple of weeks HMRC has published updated versions of its: Building and Construction; Catering and take-away food; and Clubs and Associations notices. The first two are incorporating guidance that was released last year as Information Sheets following the changes to the law in the Finance Act 2012 to deal with … [Read more...] about Recent updated VAT notices from HMRC – October 2013
Recent Revenue & Customs Briefs on VAT issues
Recent Revenue & Customs Briefs on VAT issues Finance Leases HMRC has published Revenue & Customs Brief 37/12 to provide guidance on the impact of the CJEU in the case of EON Aset Menidjimunt. HMRC advise that the decision will have no immediate impact on how finance leases are viewed for VAT purposes in the UK. HMRC also indicate that there will be no change to … [Read more...] about Recent Revenue & Customs Briefs on VAT issues
HMRC publish updated version of notices
HMRC have announced that they have published new versions of the following notices: Investment Gold Coins A copy of the updated notice, dated February 2008, can be downloaded in PDF format from the HMRC website. Joint and several liability for unpaid VAT A copy of the updated notice, dated March 2008, can be downloaded in PDF format from the HMRC website. Buildings and … [Read more...] about HMRC publish updated version of notices
Are you renovating residential properties?
Are you renovating residential properties that have been empty for at least two years?This may be good news for you.HMRC have just announced that new rules come into force on 1 January 2008 which apply the reduced rate of VAT (5%) to this work. This is an change to the existing rules which allowed the reduced rate to apply to the renovation of a building that had been empty for … [Read more...] about Are you renovating residential properties?