Accounting for VAT on unfulfilled supplies

What is an unfulfilled supply? It is defined by HMRC as: “… where a customer doesn’t use a service or collect goods … they have paid for.” Why is this important? Until now, December 2018, HMRC allowed the VAT treatment of the payments received to be changed. The supplier could recover, from HMRC, any VAT it accounted for on an advance payment. … [Read more...]

VAT’s the difference between a care home and a hospital?

VAT’s the difference between a care home and a hospital? Recently HMRC published a Revenue & Customs Brief on its policy concerning the zero-rate for new buildings intended for a relevant residential purpose as care homes. Following the First-tier Tribunal decision in Pennine Care NHS Trust HMRC has reviewed its policy on when the zero-rating … [Read more...]

Revenue & Customs Briefs published up to 31 March 2016

Revenue & Customs Briefs published up to 31 March 2016 Reminder of withdrawal of the VAT Misdirection Extra Statutory Concession 3.5 in cases of VAT liability change On 1 February 2016 HMRC published Revenue & Customs Brief 7/2016: reminder of withdrawal of the VAT Misdirection Extra Statutory Concession 3.5 in cases of VAT liability … [Read more...]

Revenue & Customs Briefs released in January 2016

Revenue & Customs Briefs released in January 2016 VAT MOSS HMRC released Revenue & Customs Brief 4/2016 on 8 January 2016 outlining a simplification available to businesses that currently trade below the VAT registration limit and supplying e-services to consumers in other EU countries. There is a less restrictive approach to the evidence … [Read more...]

VAT grouping rules and the Skandia judgment

VAT grouping rules and the Skandia judgment On 10 February 2015 HMRC published Revenue & Customs Brief 2/2015 VAT grouping rules and the Skandia judgment setting out its views of the impact of the judgment on the UK's VAT grouping rules. The Revenue & Customs Brief starts off indicating that the judgment has no impact on the UK's grouping … [Read more...]

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