You’re selling part of your business to someone who’s not VAT registered. The contracts have been drawn up, but your accountant is concerned that the sale price doesn’t reflect VAT. The buyer says
VAT isn’t payable. Who’s correct?
Published 30.09.2016
You’re transferring your business to your new company which will then register for VAT. The company will take over the current business lock, stock and barrel, but does that entitle it to reclaim VAT
on purchases made by the old business?
Published 13.11.2013
Your business is moving and you’re thinking of buying the new premises in your personal name, but there’s a possible drawback. Might personal ownership prevent recovery of VAT on costs relating to
maintenance and improvement of the property?
Published 06.02.2024
Your business stopped trading some months ago and you recently received an offer for the lease on your former trading premises and equipment. What’s the VAT position and how should this be dealt with
in the sale agreement?
Published 07.09.2022
Renting out residential property is an exempt supply, which usually means you can’t reclaim any of the VAT you’ve paid on running costs. But if you’re already VAT registered, might there be a way to
get around this rule?
Published 31.05.2011
We received a question from a subscriber who asked whether he could reclaim VAT on the costs of using a room in his house. The simple answer is “yes”, but as you would expect there’s more to it than
that. What’s to know?
Published 18.09.2009
The Tribunal recently considered a dispute regarding the date of VAT registration following the transfer of a business premises. HMRC said the business should have registered immediately, the new
owner disagreed. What was the outcome?
Published 28.04.2017
You’re planning improvements to your business premises. You’ll be using individual contractors for the work as they gave the best quotes. None of them is VAT registered which could mean you paying
hidden VAT. Why and how can you reclaim it?
Published 31.05.2022
You’ve accepted an offer for your business and the sale agreement is being drawn up. You’re selling the goodwill and the business has virtually no other assets. Do you have to charge VAT on the sale?
Published 30.04.2020
You plan to extend your house to accommodate an office for your business. A colleague has told you that this means VAT will have to be accounted for when you sell the property. Is he correct?
Published 21.09.2016