Posts Categorized: VAT

VAT Question of the Week

Question My client runs a construction company and the director is considering using self-billing arrangements.  I understand that there needs to be self-billing agreements in place that comply with the requirements in VAT Public Notice 700/62 and that each self-billing invoice needs to contain the statement ’The VAT shown is your output tax due to… Read more »

VAT Question of the Week

Question My client has been paid twice by a customer for the same invoice. He has tried to contact them but without success as they appear to have gone out of business. Does my client have to declare output tax on the overpayment? Answer No, where an overpayment is received due to a mistake by… Read more »

VAT Question of the Week

Question My client owns a residential property and is looking to build another one 17 meters from the main house.  Although the new building will be self-contained residential accommodation, there are restrictions in the planning consent that refer to it as an annexe and state that the annexe cannot be used or disposed of separately… Read more »

VAT Question of the Week

Question My client has recently arranged for a UK business to supply consultancy services to a business in the USA and he will be invoicing the UK business for his commission imminently. I understand that the place of supply for intermediary services is where the customer belongs and so, as my client’s customer is in… Read more »

VAT Question of the week

Question I have recently accepted a new client, a husband and wife partnership, which was set up to acquire a dry cleaning shop as a going concern and at the same time to buy the goodwill and customer list of a clothing alteration business.   In the 12 months prior to the transfer the turnover… Read more »

VAT Question of the Week

Question   My client is an IT consultant and uses the flat rate scheme.  He intends to buy a new computer and printer and the total cost is more than £2000. I have suggested that he buys the computer and printer from the same supplier at the same time so that the purchase qualifies as… Read more »

VAT Question of the Week

Question I have a number of clients who are non-resident, but are required to complete a UK tax return as they have UK property letting income. I know they incur VAT on property management fees, so should I also charge VAT on my accountancy fee etc?   Answer Services of a professional nature provided to… Read more »