A lady is an independent mortgage advisor; when does she need to register for VAT? Her turnover is above £85,000 and all her income is either commission, which is paid by UK lenders, or flat fees received from customers seeking a mortgage. In the last 12 months, £75,000 of her turnover was derived from helping […]
Fuller Spurling’s December 2019 tax briefing is now available, with updates and information to keep you up to date with the current tax situation regarding… Capital Gains from off-plan homes following a recent Court of Appeal’s decision Changes to company-car taxable benefits Reporting of Offshore Investments Funds on your Tax Return Making tax digital (MTD) […]
HM Revenue & Customs announced on Friday, 6 September 2019 that the new reverse charge rules for VAT for the building industry have been postponed for a year until 1st October 2020.
Are you a VAT registered building contractor – perhaps working on various construction projects, including new build housing developments and new build commercial developments?
A limited company runs an interior design company. The company rents a small unit for storing stock, but this space is not really suitable for use as an office. The sole director is exploring the possibility of having a home-office erected in her garden.
A sole proprietor hand makes bespoke furniture and has taken a large order from a Norwegian individual for some solid oak furniture
A Limited Company runs a swim school, teaching children. The company’s turnover is close to £85,000. Is the company making exempt supplies of education and therefore does not need to register for VAT?
As the VAT registration threshold is to be frozen at £85,000 until at least April 2022, more businesses will be drawn into the VAT net simply by increasing their prices by inflation every year.
If you believe the adverts, accounting software is really easy to operate – but that depends on it being set-up correctly
After de-registering for VAT a plumber now needs to re-register and needed to understand what can be claimed as Input Tax from his earlier registration.
In just over six months, builders, contractors and other trades associated with the building industry will have to get to grips with a new way of accounting for VAT.
Businesses which import or export goods will be aware of the difficulties that leaving the EU with no withdrawal agreement in place will cause them. However, other businesses will also be affected by immediate changes to the VAT system.