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Where Taxpayers and Advisers Meet

Search found 29 matches

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by Trevor S
Wed Jul 31, 2019 10:47 pm
Forum: VAT & Excise Duties
Topic: VAT and credit account payments
Replies: 3
Views: 2034

Re: VAT and credit account payments

Assuming the goods are legally being sold by the merchant to you, then by you to the customer: VAT on your sales is 407.24 - 26.67 = 380.57. This is because you're issuing an invoice and a credit note (for returned goods) to your customer. VAT on your purchases is 357.74 - 34.22 + 18.67 = 342.19. Ag...
by Trevor S
Fri Jul 26, 2019 12:37 pm
Forum: VAT & Excise Duties
Topic: Vat on rental income from Airbnb
Replies: 1
Views: 1679

Re: Vat on rental income from Airbnb

The definition of holiday accommodation (in VAT law) is "any accommodation...which is advertised or held out as holiday accommodation or as suitable for holiday or leisure use". So perhaps consider factors like: - how do you describe the properties, and how might potential customers view them, - how...
by Trevor S
Thu Jul 11, 2019 10:50 pm
Forum: VAT & Excise Duties
Topic: Import Duties on Competition Prize
Replies: 3
Views: 1980

Re: Import Duties on Competition Prize

Purely out of curiosity ... any thoughts on what the position would be if the scenario was reversed - i.e. a competition run by UK company, with a winner outside the EU? Normal business gift rules would permit input VAT recovery on the purchase of the prize, but require an equal output VAT declarati...
by Trevor S
Wed Jul 10, 2019 10:55 pm
Forum: VAT & Excise Duties
Topic: 5%VAT conservatory Roofs/conversions
Replies: 11
Views: 3403

Re: 5%VAT conservatory Roofs/conversions

The only types of ESM that this change removes completely from eligibility for the 5% VAT rate are wind and water turbines - so not relevant to your client. However, there was doubt expressed earlier in this thread as to whether the works would even qualify under the existing rules as being the inst...
by Trevor S
Wed Jul 10, 2019 5:57 pm
Forum: VAT & Excise Duties
Topic: Import Duties on Competition Prize
Replies: 3
Views: 1980

Re: Import Duties on Competition Prize

See HMRC notice 252 (link below), in particular sections 12, 4 and 24. It appears that duty/VAT would be due, as free of charge goods are valued at the usual value of identical goods, rather than the (nil) price paid. https://www.gov.uk/government/publications/notice-252-valuation-of-imported-goods-...
by Trevor S
Wed Jul 10, 2019 1:05 pm
Forum: VAT & Excise Duties
Topic: 5%VAT conservatory Roofs/conversions
Replies: 11
Views: 3403

Re: 5%VAT conservatory Roofs/conversions

A final version of the HMRC document has now been produced, this includes details of a named contact in HMRC:

https://www.gov.uk/government/publications/vat-changes-to-the-reduced-rate-for-energy-saving-materials-2019/vat-changes-to-the-reduced-rate-for-energy-saving-materials-2019
by Trevor S
Thu May 23, 2019 6:38 pm
Forum: VAT & Excise Duties
Topic: Whether to charge VAT on performance fees
Replies: 2
Views: 1581

Re: Whether to charge VAT on performance fees

The lack of responses so far may be due to the complexity, and the fact that a lot is dependent upon the exact contractual relationships between the various parties. I’ll set out my thoughts in case they help, and also detail the assumptions that they are based on. If the contractual arrangements ar...
by Trevor S
Thu May 16, 2019 11:25 pm
Forum: VAT & Excise Duties
Topic: 5%VAT conservatory Roofs/conversions
Replies: 11
Views: 3403

Re: 5%VAT conservatory Roofs/conversions

The legislation is http://www.legislation.gov.uk/ukpga/1994/23/schedule/7A, groups 2 and 7. This leads to much the same conclusion as the notices already referred to.
by Trevor S
Mon May 13, 2019 10:55 pm
Forum: VAT & Excise Duties
Topic: Will I Pay VAT?
Replies: 4
Views: 1332

Re: Will I Pay VAT?

Thanks Les. Not something that I'd been aware of before, but it does make sense!
by Trevor S
Sat May 11, 2019 5:58 pm
Forum: VAT & Excise Duties
Topic: Will I Pay VAT?
Replies: 4
Views: 1332

Re: Will I Pay VAT?

The "place of supply" of digital services under EU/UK VAT rules is generally where the customer is based. Therefore, if your only customer is the US based business, you will not need to (or be able to) register for VAT. However - I don't know what the US tax regulations are. If your supplies are dee...

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