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Where Taxpayers and Advisers Meet

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by les35
Thu Mar 14, 2019 7:45 pm
Forum: VAT & Excise Duties
Topic: pre-option expenses
Replies: 1
Views: 76

Re: pre-option expenses

You cannot normally back-date an option to tax.
But, is the contract a rent/lease, or a licence to operate a business which will be taxable anyway.
Some paid-for professional advice Is essential on this type of arrangement.
by les35
Tue Mar 12, 2019 6:06 pm
Forum: VAT & Excise Duties
Topic: Separation
Replies: 6
Views: 119

Re: Separation

The short answer to your question is 'no.'
Does your son want to run a VAT-registered business or not? If so, then you could transfer the business to him, and perhaps draw a commission for your work to set it up.
by les35
Wed Mar 06, 2019 1:27 pm
Forum: VAT & Excise Duties
Topic: Flooring vat zero rated on new build
Replies: 3
Views: 96

Re: Flooring vat zero rated on new build

This is an area that HMRC are looking at at the moment. 'When is a house complete?' After a certain date all works to the house become standard rated since they are not works in the course of construction. Carpets cannot be zero rated. But, if the screeding and installation of flooring is done befor...
by les35
Wed Feb 13, 2019 9:28 am
Forum: VAT & Excise Duties
Topic: revoked option
Replies: 1
Views: 114

Re: revoked option

In principle, yes. Once the Option is revoked there is no self supply charge at deregistration.
Other questions would need to be closed off; partial exemption? CGS, etc?
by les35
Mon Feb 11, 2019 5:08 pm
Forum: VAT & Excise Duties
Topic: VAT from insurance house rebuild
Replies: 3
Views: 140

Re: VAT from insurance house rebuild

HMRC will not generally provide 'advice' to enable you to make the best decision taking into account your particular circumstances.
by les35
Mon Feb 11, 2019 9:29 am
Forum: VAT & Excise Duties
Topic: VAT from insurance house rebuild
Replies: 3
Views: 140

Re: VAT from insurance house rebuild

The DIY scheme allows you to recover VAT on materials you use to build your own house.

Or, and it is simpler, engage a contractor to do it all zero rated, so you don't have to pay the VAT.
by les35
Mon Feb 04, 2019 11:43 am
Forum: VAT & Excise Duties
Topic: VAT registration when selling to the EU
Replies: 1
Views: 134

Re: VAT registration when selling to the EU

My view is that by using the EFN programme you will not be liable to be registered for VAT in the UK. But do note that sales into the EU do count towards your UK VAT registration threshold.
Do ask
by les35
Fri Jan 11, 2019 12:55 pm
Forum: VAT & Excise Duties
Topic: Place of supply + reverse charge for non-EU service invoices
Replies: 3
Views: 196

Re: Place of supply + reverse charge for non-EU service invoices

I think this is a General Rule service, so the Place of Supply is where the recipient is located, ie: UK. Reverse Charge applies.
by les35
Mon Jan 07, 2019 5:10 pm
Forum: VAT & Excise Duties
Topic: Is this Artificial separation?
Replies: 3
Views: 213

Re: Is this Artificial separation?

Given the distinctions between the existing and the new business, I think HMRC would struggle to challenge your arrangement. But you will want some advice to review the arrangements, and perhaps highlight and address any weaknesses.
by les35
Mon Jan 07, 2019 5:05 pm
Forum: VAT & Excise Duties
Topic: Vat on property development
Replies: 7
Views: 377

Re: Vat on property development

There is no problem!
Where the lease is properly zero rated, you can claim all input tax incurred, subject to the usual rules.
Don't lose sleep over this one.

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