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Where Taxpayers and Advisers Meet

Search found 8 matches

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by Trevor S
Wed Feb 13, 2019 11:49 pm
Forum: VAT & Excise Duties
Topic: VAT on forfeited deposits
Replies: 1
Views: 68

Re: VAT on forfeited deposits

I believe that this extract needs to be read in conjunction with 4.1 of the same document. If a business had always been adjusting for the VAT on forfeited deposits (in accordance with previous policy), they may continue to do so up until the end of this month. This is because HMRC accept that the t...
by Trevor S
Sun Feb 10, 2019 11:33 pm
Forum: VAT & Excise Duties
Topic: Vat registration for royalty payments
Replies: 1
Views: 72

Re: Vat registration for royalty payments

I'm assuming that the agent is just acting as an agent ... In other words, they do not at any stage own your work, but merely act as an intermediary between you and the buyers? If so, you become liable to register for VAT when the sales exceed the threshold. Assuming that the agent deducts some form...
by Trevor S
Sun Feb 03, 2019 10:14 am
Forum: VAT & Excise Duties
Topic: VAT Square EU Triangular
Replies: 1
Views: 97

Re: VAT Square EU Triangular

Reading this: https://www.gov.uk/guidance/vat-refunds-for-uk-businesses-buying-from-other-eu-countries I don't think you can claim. The goods do not leave the Netherlands (so the Dutch company is correct to charge VAT), and you are buying them for resale (one of the examples given of when you can't ...
by Trevor S
Fri Feb 01, 2019 8:16 pm
Forum: VAT & Excise Duties
Topic: Help please, how to claim VAT refund for a non VAT registered person
Replies: 5
Views: 141

Re: Help please, how to claim VAT refund for a non VAT registered person

Unfortunately I with the previous replies - HMRC are not required to directly refund VAT to a company's creditors. It seems odd to me that a company with cashflow issues would be that up to date on their tax payments. Are you sure that they were even VAT registered - or might they have just claimed ...
by Trevor S
Mon Jan 28, 2019 11:17 pm
Forum: VAT & Excise Duties
Topic: Are Set Designer Floats Part of Turnover
Replies: 5
Views: 158

Re: Are Set Designer Floats Part of Turnover

I think you need to establish whether the goods bought with the "float" at any point belong to the set designer. If ownership of goods passes straight from the supplier to the set designer's client, then it would imply that the designer is acting as agent, and that part of the "float" wouldn't count...
by Trevor S
Wed Jan 23, 2019 11:50 pm
Forum: VAT & Excise Duties
Topic: MTD postponement
Replies: 6
Views: 296

Re: MTD postponement

Further to my earlier post, HMRC have now announced a six month deferral on the soft landing period for those affected by the deferral previously announced. Therefore those VAT registrations that have been deferred will still have a full twelve month soft landing period. This is included in a recent...
by Trevor S
Sat Jan 05, 2019 12:28 am
Forum: VAT & Excise Duties
Topic: Is this Artificial separation?
Replies: 3
Views: 163

Re: Is this Artificial separation?

Its always a bit of a grey area... It looks like you’ve already found HMRC's published guidance, and their internal manual (i.e. written for HMRC staff use) is understandably heavily redacted. Even case history isn’t entirely helpful, as there will be situations where the Tribunals have reached deci...
by Trevor S
Fri Jan 04, 2019 12:02 am
Forum: VAT & Excise Duties
Topic: MTD postponement
Replies: 6
Views: 296

Re: MTD postponement

The deferral applies to about 3.5% of VAT registrations, however as these will tend to be larger more complex organisations, so the amount of VAT involved is likely to be much higher. A list of deferred categories is https://www.gov.uk/government/publications/making-tax-digital/overview-of-making-ta...

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