VAT registration threshold monitoring

I've prepared a note on the VAT registration threshold and included a table for monitoring a business's taxable turnover. You can download it as a PDF File. The VAT registration threshold will remain at £85,000, until at least 31 March 2020. Businesses with taxable turnover close to the limit will need to monitor their turnover, so they … [Read more...]

Recently updated VAT Notices – November 2017

Recently updated VAT Notices - November 2017 In the past few weeks HMRC has published updates to ten VAT Notices. Some of the notices only had minor changes made. These are: Notice Change New details 701/22: tools for manufacture of goods for export Update to “Putting things right section” 730: civil penalty … [Read more...]

Fulfilment House Due Diligence Scheme

Fulfilment House Due Diligence Scheme Guidance HMRC has published guidance on the Fulfilment House Due Diligence Scheme. The guidance is based on legislation that is now in draft form. This includes the Finance (No. 2) Bill 2017 that is before Parliament at the moment and a draft statutory legislation. The draft statutory instrument is the … [Read more...]

Building a new flat – can it be zero-rated?

Building a new flat - can it be zero-rated? You own a block of flats and want to increase the number of flats in the block. What can you do? You could rearrange the number of flats in the block so you have more smaller flats. Might go down badly with current tenants and may be less attractive to new tenants. How about adding a new flat on the top … [Read more...]

They come in threes – VAT queries

That's what is said. I've noticed over the years that when I get a query on one area of VAT, I can expect a similar query to be asked soon after. This past month I've seen two instances where similar queries have been asked. At the moment I'm waiting for the third query on each topic to be raised. Business splitting I've been asked about … [Read more...]

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