News by Service

VAT on land?

26th September 2023
You have a deal with a local farmer, giving you first refusal to purchase ten acres of land including buildings if the farmer decides to sell it in the next ten years. Is the farmer right to charge VAT on the fee and can you claim input tax? Vat expert John Craig explains below. A...

Can you claim VAT on invoices in own name?

7th September 2023
It’s common for directors and employees to buy things for the company in their own name or to use their personal Amazon account for convenience. The problem is that the invoice is then addressed to them and not the company. Can you claim the VAT back?  VAT Expert John Craig provides the answer. The key...

New payment option for VAT

4th September 2023
If a business can’t pay the VAT it owes on time, a new time-to-pay option could provide some breathing space. Who can take advantage and how can it be applied for?  Naomi Swan explains. If a business cannot pay its VAT on time and owes less than £20,000, it is now possible to set up...

How much VAT can you reclaim on refurb costs?

3rd August 2023
Your firm is relocating premises and spending a lot on refurbishments including expensive furnishings and artwork for the offices. A colleague has said you might not be entitled to reclaim VAT on some of these costs. Are they right? VAT expert John Craig advises. If you are VAT registered and buy goods or services for...

Q&A – July 2023

26th June 2023
Can services be zero-rated? Q. We have decided to build a bungalow next to our farmhouse so that my partners elderly mother can live in it and be close to us. We have obtained planning permission for the project and have appointed a builder to start the work. The builder will supply labour and materials....

Saving VAT on property conversion costs

22nd June 2023
Susan owns an unoccupied commercial property. She plans to convert it into two flats on the upper floors and a retail unit on the ground floor, which she’ll let. How much of the VAT paid on the conversion costs can she reclaim? VAT Expert John Craig explains. There is good news, even though Susan is...

Changes to VAT penalties and interest

28th May 2023
Here is an official letter that HMRC have just sent out to their customers relating to new penalties for submitting VAT returns or paying VAT late. Apologies if you are already aware of this but it is a useful reminder if you have not yet picked up on the new regime. Particularly important if you...