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Where Taxpayers and Advisers Meet

Search found 583 matches

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by les35
Tue Aug 25, 2020 10:23 am
Forum: VAT & Excise Duties
Topic: Joint ventures and VAT registration
Replies: 9
Views: 1217

Re: Joint ventures and VAT registration

I would consider all the Directors of all the Partnership companies. Its better to provide too much information now than fail to do so, and have the application delayed by HMRC questions.
by les35
Fri Aug 21, 2020 9:29 am
Forum: VAT & Excise Duties
Topic: Joint ventures and VAT registration
Replies: 9
Views: 1217

Re: Joint ventures and VAT registration

Feel free to DM me if HMRC ask difficult questions!
by les35
Tue Aug 18, 2020 3:44 pm
Forum: VAT & Excise Duties
Topic: VAT on raffle
Replies: 2
Views: 401

Re: VAT on raffle

Some games of chance are exempt from VAT. Check VAT Notice 701/29 to satisfy yourself on this point. A prize raffle, where no profits are retained is exempt. But the position where you are raising money is different.
by les35
Tue Aug 18, 2020 3:30 pm
Forum: VAT & Excise Duties
Topic: Joint ventures and VAT registration
Replies: 9
Views: 1217

Re: Joint ventures and VAT registration

Yes, list of Partners on Form VAT2. I suspect HMRC will want confirmation.
(I've not seen many of these!)
by les35
Tue Aug 18, 2020 11:19 am
Forum: VAT & Excise Duties
Topic: Joint ventures and VAT registration
Replies: 9
Views: 1217

Re: Joint ventures and VAT registration

A Partnership can consist of non-natural persons. I would recommend a simple Heads of Terms agreement between the parties, to demonstrate the arrangement. You may need to provide that to HMRC for when you register the Partnership.
by les35
Mon Aug 03, 2020 8:49 am
Forum: VAT & Excise Duties
Topic: UK to EU service VAT
Replies: 3
Views: 1224

Re: UK to EU service VAT

You can register for UK VAT if all your sales are 'General Rule' services. This means you can claim all the VAT you incur as input tax. You will have to charge on any sales to UK customers too.
Your invoice will then have the relevant wording on 'Reverse Charge service,' or similar.
by les35
Wed Jul 15, 2020 3:02 pm
Forum: VAT & Excise Duties
Topic: EU Company Insisting I register for VAT
Replies: 2
Views: 782

Re: EU Company Insisting I register for VAT

If you sell to private individuals, you could explore whether it is VAT exempt private tuition.
by les35
Wed Jul 15, 2020 3:01 pm
Forum: VAT & Excise Duties
Topic: EU Company Insisting I register for VAT
Replies: 2
Views: 782

Re: EU Company Insisting I register for VAT

It is common in the EU that businesses are all registered for VAT, irrespective of turnover. It is only the UK (awkward as usual) which has a high registration threshold. You could try to argue the point with the VAT authority of your client's country. You should consider the implications of registe...
by les35
Wed Jun 24, 2020 9:26 am
Forum: VAT & Excise Duties
Topic: Property Management and VAT Threshold
Replies: 3
Views: 954

Re: Property Management and VAT Threshold

VAT is a tax on a supply. The recipient of the supply can claim input tax, subject to rules. So, if I am the recipient of a supply, and my supplies are exempt (residential lettings, for example) I cannot claim input tax, even though I have paid it. If I pay an invoice, that does not make me the reci...
by les35
Mon Jun 22, 2020 8:46 am
Forum: VAT & Excise Duties
Topic: Property Management and VAT Threshold
Replies: 3
Views: 954

Re: Property Management and VAT Threshold

You are managing properties, not letting them (although that will depend on your written contracts with landlord and tenants). Your supplies are taxable, so, when you reach the £85k threshold, you will be required to register for VAT. Once registered you will be able to claim back VAT on costs incur...

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