Is incorrect attribution of VAT costing you money

12th December 2014

Your company makes both VATable and exempt sales, which means it can’t recover the VAT it pays on some purchases. Working this out involves several steps. How can you ensure you maximise the VAT reclaimable?

The pros and cons of charging VAT on buildings

1st December 2014

You’re buying new premises for your business. VAT is payable on the price, but you’ll only have to fund this until you reclaim it on your next VAT return. However, why do you need to think beyond this?

Avoiding a VAT trap on employee salaries

25th November 2014

Usually, VAT isn’t part of the equation on staff salaries. However, where they work for more than one of your businesses and costs are shared, VAT can come into play. What steps are needed to prevent this?

Reclaim VAT on the costs of supplying foreign customers

25th November 2014

Where you don’t charge VAT to your customers you can’t usually reclaim any you incur in respect of the costs of making the supply. What are the exceptions to this rule when selling services to foreign customers?

Simplifying partial exemption

25th November 2014

For years there was only one, potentially fiddly, method to work out the amount of VAT reclaimable where partial exemption applies. However, two alternative tests could make your life easier. How do they work?

VAT on employee benefits - can you avoid it?

21st October 2013

You can reclaim the VAT you pay on purchases which you then pass on as benefits in kind to your employees. However, when you supply them you’ll usually have to account to HMRC for VAT as if you were making a normal sale; how can you legitimately avoid this extra cost?

Reducing the cost of your new business premises

19th September 2013

You’ve found the ideal new home for your business - the trouble is with the VAT and stamp duty land tax it’s a bit over budget. What can you do to cut the cost but keep the seller happy?

A legitimate VAT claim for the cost of private motoring

15th August 2013

If you’re a director, business partner or self-employed as a sole trader, there’s a generous VAT break which, if you use your own car for business, could cut your running costs. How can you make it work for you?

Split the bill to save VAT

3rd July 2013

The rules say that you can’t reclaim VAT on the cost of entertaining your customers etc. But in some situations a claim is allowed for associated costs. When does this apply?

Saving VAT and SDLT on property deals

27th March 2013

In some situations where you're buying or selling a commercial property that's subject to VAT you can avoid having to account to HMRC for this. As a buyer this might reduce the SDLT you pay or improve your cash flow. And as the seller it can make your property more attractive to buyers. What's involved?

Can you register for VAT advantages?

18th January 2013

An advantage to VAT registration is that your business can reclaim the VAT it pays on purchases. But some organisations, such as charities, miss out because they aren't entitled to register. Can you work around this rule?

VAT - no paperwork, no problem

26th November 2012

Usually the Taxman is a stickler for paperwork and won't allow you to claim a penny in VAT without an invoice or receipt to back it up, but there are exceptions. If you're not aware of these you might be missing out.

Reclaiming VAT on household costs

16th November 2012

The cost of running your home seems to be increasing by the day; however, if you work from home, full or part-time, you can at least reclaim some of the VAT on this. But how much?

VAT compensation

29th October 2012

Sometimes things don't go as planned, even in the best run business. If this means having to compensate a customer how can you get the Taxman to contribute to this cost?

New businesses missing out on reclaiming VAT

20th September 2012

Generally, when a business registers it can reclaim VAT paid for goods on hand. There's also scope for reclaiming VAT on services received before registration but tough conditions apply. What exactly are you allowed to claim for?

Promoting your business tax efficiently

9th July 2012

The Taxman allows you to reclaim the VAT paid on the cost of promoting your business. But will he change his mind where this amounts to sponsoring your favorite sporting event or hobby?

Shifting the cost of VAT

22nd June 2012

Where you run more than one business and they share overheads, allocating these costs between the companies might lead to a VAT charge. But the good news is there's a fairly simple way to avoid this.

Get your VAT back on debts

8th June 2012

It's bad news if a customer can't or won't pay, and where you've already handed over VAT on the sale to the Taxman it adds insult to injury. Of course, you'll get the VAT back if the debt goes completely bad, but how long do you have to wait and could you avoid paying it in the first place?

Maximising VAT claims on property development

27th March 2012

Property prices seem stagnant, while building costs just keep going up. However, maximising your VAT recovery on these can ease the pain a little. How is this done?

VAT-efficient Promotions

23rd February 2012

These days everyone is more price-conscious. Sales promotion schemes are a good way of enticing new business or keeping hold of existing customers. How can you make these schemes VAT efficient?

Changes to EU sales reporting

7th February 2012

If you're registered, your VAT return must include figures for EU purchases and sales, but you might also be required to provide EC sales list or Intrastat reports. When do these apply and how are they changing?

A new way to contact the Taxman

14th January 2012

The Taxman has at last agreed to accept e-mails, but only for VAT queries. What are the drawbacks and advantages to using this service?

VAT due on employee benefits from January

24th October 2011

It's taken over a year for the Taxman to decide what to do following the EU ruling regarding VAT on certain employee benefits. He's now issued guidance. What does this say and how should you implement the change?

Taxman backs down on VAT flat-rate scheme

24th October 2011

The Institute of Taxation recently got took up the cudgels with the Taxman over incorrect guidance it has published. This might have caused businesses using the flat-rate scheme to wrongly pay VAT on investment income. What's the full story?

Is incorrect attribution of VAT costing you money

The pros and cons of charging VAT on buildings

Avoiding a VAT trap on employee salaries

Reclaim VAT on the costs of supplying foreign customers

Simplifying partial exemption

VAT on employee benefits - can you avoid it?

Reducing the cost of your new business premises

A legitimate VAT claim for the cost of private motoring

Split the bill to save VAT

Saving VAT and SDLT on property deals

Can you register for VAT advantages?

VAT - no paperwork, no problem

Reclaiming VAT on household costs

VAT compensation

New businesses missing out on reclaiming VAT

Promoting your business tax efficiently

Shifting the cost of VAT

Get your VAT back on debts

Maximising VAT claims on property development

VAT-efficient Promotions

Changes to EU sales reporting

A new way to contact the Taxman

VAT due on employee benefits from January

Taxman backs down on VAT flat-rate scheme

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