VAT Archives - Page 7 of 18 - Whitefield Tax - Isle of Wight Accountants

VAT – Domestic Reverse Charge for Building and Construction Services

by Jessica Garbett | Oct 1, 2019 | ACCA, business issues, VAT

The start of the VAT domestic reverse charge for the building and construction services has been delayed for one year and is now scheduled to start on 1 October 2020. Business need to use this time window to ensure they are prepared. (Edit June 2020 – now 1...

VAT: Tour operators margin scheme

by Jessica Garbett | Oct 1, 2019 | ACCA, VAT

New guidance as to what the selling price should and should not include. The guidance around the Tour Operators Margin Scheme (VAT Notice 709/5) has been updated, including Paragraph 6.1, which details how to work out the selling price under the Tour Operators Margin...

VAT Compensation in commercial property transactions

by Jessica Garbett | Sep 30, 2019 | ACCA, VAT

In its true meaning, a compensation is not a payment for a supply of goods or services, therefore VAT does not apply. The commercial reality is often different than the labels attached to payments, and the VAT position changes accordingly. The guidance below is a...

VAT reverse charge on building and construction services

by Jessica Garbett | Aug 19, 2019 | ACCA, VAT

Edit – September 2019 – these measures deferred until 1 October 2019 Edit June 2020 – now deferred to 1 March 2021 We’ve already briefed on this, but the issue bears repeating, and this guide from ACCA In Practice will be helpful VAT reverse...

VAT reverse charge on building and construction services

by Jessica Garbett | Jul 31, 2019 | ACCA, VAT

Edit – September 2019 – these measures deferred until 1 October 2019 Edit – June 2020 – deferred to 1 March 2021 Find out when the reverse change is coming in. As highlighted previously, the reverse charge measure on building and construction...

VAT: Sponsorship, prizes and donations

by Jessica Garbett | Jul 22, 2019 | ACCA, VAT

Sponsorship (VAT Notice 701/41) has been updated for the treatment of mixed sponsorship and donations and the claiming of input tax on the prizes from competitions. The notice also contains a section on crowdfunding. HMRC states: ‘Whether a recipient of crowdfunding...

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VAT – Domestic Reverse Charge for Building and Construction Services

VAT: Tour operators margin scheme

VAT Compensation in commercial property transactions

VAT reverse charge on building and construction services

VAT reverse charge on building and construction services

VAT: Sponsorship, prizes and donations

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