In January, the rules on employee benefits-in-kind changed and can now mean VAT is payable in situations where it didn’t apply before. But is this extra cost to your business a tax-deductible
expense?
Published 14.05.2012
Giving your employees benefits-in-kind (BiK) can be a tax-efficient way of rewarding them, but it still costs money. You can reduce this by reclaiming the VAT you paid in providing the BiK, but what
are the consequences?
Published 16.09.2010
You’ve got some old stock and office furniture clogging up your storeroom. It may not be in mint condition but it’s too good to throw away. If you take it home to use, or your company gives it to
you, what will the Taxman say?
Published 04.03.2011
Just weeks after saying that VAT must be paid on certain employee benefits from January, the Taxman has announced a concession. What’s the full story?
Published 03.11.2011
Making gifts to your customers or suppliers to engender goodwill is nothing new. However, have recent changes to the VAT legislation created an opportunity to reduce your VAT bill on these?
Published 30.09.2011
Businesses can’t reclaim VAT on entertaining expenses, but there are circumstances where this rule doesn’t apply. And a recent case in the European Court of Justice (ECJ) has created a further
opportunity. When can you make a claim?
Published 23.04.2009
Your company bought some machinery for a particular project, but no longer has a use for it. If it transfers the equipment to you for personal use, will this trigger a VAT charge?
Published 26.06.2014
Providing your employees with benefits in kind is a supply for VAT purposes on which you might have to account for VAT. However, special rules and HMRC concessions mean this doesn’t apply in all
circumstances. So when can you take advantage?
Published 12.12.2022
In his recent budget the Chancellor slipped in a sneaky change regarding the right of businesses to reclaim VAT using the Lennartz rule for purchases. This will affect thousands of businesses in the
UK. What’s it all about?
Published 14.04.2010
The Taxman has recently issued a statement regarding the VAT which businesses can reclaim on major assets which aren’t used entirely for business purposes. What steps do you need to take now to meet
the Taxman’s new rules?
Published 04.05.2011