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Where Taxpayers and Advisers Meet

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by les35
Tue Oct 30, 2018 5:06 pm
Forum: VAT & Excise Duties
Topic: Limited Company VAT on New Build
Replies: 1
Views: 373

Re: Limited Company VAT on New Build

You can claim VAT back.
Sale of a new dwelling is zero rated. Sale of a new commercial building is standard rated.
Monthly VAT returns during the building phase?
by les35
Fri Oct 26, 2018 11:08 am
Forum: VAT & Excise Duties
Topic: Vat on building purchase
Replies: 3
Views: 513

Re: Vat on building purchase

If you are carrying out taxable business activity from the building you do not need to opt to tax. You can claim the input tax.
by les35
Thu Oct 25, 2018 8:51 am
Forum: VAT & Excise Duties
Topic: Claiming VAT on Stock held at Registration
Replies: 1
Views: 362

Re: Claiming VAT on Stock held at Registration

Any reasonable estimate of the value of the stock on hand, and therefore the VAT to be claimed is fine. Make sure you keep a record of the calculation, and a print of this forum thread.
by les35
Tue Oct 23, 2018 9:25 am
Forum: VAT & Excise Duties
Topic: VAT sole trader reselling to EU
Replies: 1
Views: 364

Re: VAT sole trader reselling to EU

I do not think you are describing triangulation - see chapter 13 in this notice: https://www.gov.uk/guidance/vat-and-the-single-market-notice-725 You can only claim back the VAT if you are registered for VAT. If your customers are private individuals, you will charge UK VAT. But you will also need t...
by les35
Mon Oct 15, 2018 7:23 pm
Forum: VAT & Excise Duties
Topic: VAT on services to a Guernsey company
Replies: 1
Views: 789

Re: VAT on services to a Guernsey company

The services fall within the General Rule. HMRC Notice 741A, para 6.3 explains this. Notice that you need to obtain evidence that the customer is in business.
by les35
Sat Oct 13, 2018 8:16 pm
Forum: VAT & Excise Duties
Topic: VAT when acting as an Agent
Replies: 3
Views: 628

Re: VAT when acting as an Agent

Assuming your customer is another business, then the supply is subject to the General Rule. At least you won't have to register in another Member State. But you will have to complete an EC Sales List. I suggest a meeting with your Accountant (or VAT Specialist) to go over the contract to confirm the...
by les35
Fri Oct 12, 2018 4:29 pm
Forum: VAT & Excise Duties
Topic: VAT when acting as an Agent
Replies: 3
Views: 628

Re: VAT when acting as an Agent

It depends! There are a number of possible outcomes: - what is the underlying supply? - is the supply one of goods or services? If service, does it fall within a General Rule? - are any or all parties in a single Member State? - is the Agency arrangement in a written document? Usually of course the ...
by les35
Fri Oct 12, 2018 4:16 pm
Forum: VAT & Excise Duties
Topic: VAT on mixed clothing lots?
Replies: 4
Views: 722

Re: VAT on mixed clothing lots?

From your description I think you are making a supply which is capable of apportionment. HMRC guidance is not easy to follow. This is the link: https://www.gov.uk/hmrc-internal-manuals/vat-supply-and-consideration/vatsc80000 If you agree with the principle that you are making a supply which is capab...
by les35
Wed Oct 10, 2018 8:00 pm
Forum: VAT & Excise Duties
Topic: VAT on mixed clothing lots?
Replies: 4
Views: 722

Re: VAT on mixed clothing lots?

Is the clothing sold (1) as unsuitable for wearing? (2)Or simply mixed adult and children's clothing?
In my view:
1 - standard rated
2 - agree a method of apportionment
by les35
Wed Oct 10, 2018 9:01 am
Forum: VAT & Excise Duties
Topic: VAT Registration and Pre-existing Contracts
Replies: 1
Views: 601

Re: VAT Registration and Pre-existing Contracts

A very common problem.
A supplier should make sure his contract is worded to allow him to charge VAT in the event of him becoming registered for VAT.

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