HMRC’s latest Business Brief offers help for businesses that make both VATable and exempt supplies, and have been affected by the pandemic. What’s the full story?
Published 04.05.2021
If employees or directors use equipment owned by your business for private purposes, you must account for VAT on this. However, for IT equipment HMRC takes a fairly generous approach. How can you
make the most of it?
Published 04.09.2019
Your bookkeeper is preparing your latest VAT return which includes expenses paid by your employees, some of which include VAT. How much of this can you reclaim and what supporting evidence must you
have?
Published 13.12.2022
You’re downsizing your office and have asked a few staff to permanently change to homeworking. You’ll pay them a one-off allowance towards the cost of setting up their home workspace. Can you reclaim
the VAT they incur?
Published 28.06.2021
If your business makes exempt and taxable supplies, the VAT it can reclaim on its general expenses is restricted. HMRC operates a standard method for working out the restriction, but could you use a
special method instead to get back more VAT?
Published 24.03.2021
Your firm’s cash flow is tight and to make matters worse some of its suppliers are being especially slow in providing invoices. Normally, you must wait for these before you can reclaim the VAT. But
is there a legitimate way around this?
Published 02.11.2020
Now that you and your fellow directors often work from home you need newer and better IT equipment. The company will buy it in bulk to get a discount and then transfer it to each employee. What’s the
most VAT-efficient way to do this?
Published 07.07.2022
Generally, VAT paid on purchases for your business can be reclaimed. However, VAT on cars is an exception and even where they are used only for business it’s rarely possible to reclaim it. What steps
can you take to improve your chances?
Published 19.02.2019
The First-tier Tribunal (FTT) recently considered a firm’s VAT claim for the purchase of two cars, a personalised number plate and clothing. Its ruling neatly sums up the conditions that must be met
for such claims to be successful. What was the outcome?
Published 31.08.2022
You’re acquiring a small business to grow your company. It owns equipment which will be included in the transfer. No VAT has been reclaimed on it as the business was not registered. Can you reclaim
the VAT following the transfer?
Published 03.06.2019