HMRC have released the long-awaited guidance on how the new VAT accounting process is to work between Sub Contractors & Main Contractors.
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VAT
All posts tagged VAT
Delay to MTD for the NHS
by Berthold Bauer on June 17, 2019As you probably know, most ordinary businesses have been mandated to start ‘Making Tax Digital’ as of 1 April 2019.
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HMRC Update – Zero Rating for Charitable Funds Purchases
by Berthold Bauer on October 25, 2018HMRC have recently updated the VAT Notice relating to purchases made by NHS Organisations using charitable funds. (https://www.gov.uk/guidance/charity-funded-equipment-for-medical-and-veterinary-uses-notice-7016 )
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MTD Update – Delayed for NHS bodies
by Berthold Bauer on October 19, 2018HMRC have announced this week that Making Tax Digital will be delayed for some bodies, importantly including the NHS, until 1 October 2019. It was anticipated, given the complexities of the NHS and the requirement for monthly returns that they might introduce a delay for the requirement. This of course does allow everyone a little more time to ensure they have the appropriate means to submit their returns with the appropriate software, but it’s something we advise our Clients to prepare for as early as possible to avoid any potential problems.
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NHSI advice: Suspend Subsidiary Plans
by Berthold Bauer on September 21, 2018As many of you will probably know, NHSI have this week issued a short statement advising Trusts to put on hold any subsidiary plans until further notice.
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New HMRC VAT Rules: Building Contractors to become responsible for sub-contractors VAT
by Berthold Bauer on June 21, 2018A new VAT Accounting procedure is to be implemented in October 2019 whereby the Main Contractor will become responsible for a sub-contractors VAT. In the same way in which the Construction Industry Scheme has addressed the missing tax aspect of labourers and small traders in the construction industry (by placing the burden of tax collection on Main Contractors & Developers); the purpose of the Reverse Charge for Construction Services is to reduce the occurrences of ‘disappearing trader fraud’.
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ScriptSwitch Prescribing Support Software
by Berthold Bauer on April 9, 2018HMRC have revised their stance on the VAT recovery of ScriptSwitch prescribing support software.
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RIBA Interview with Berthold Bauer MD Simon Merry
by Berthold Bauer on April 6, 2018Berthold Bauer’s Managing Director Simon Merry was recently interviewed by the RIBA, in particular to discuss whether architects should or should not talk to their clients about VAT.
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Moorfields Divisional VAT Registration
by Berthold Bauer on February 28, 2018It has recently come to light that Moorfields Eye Hospital NHS Foundation Trust (Moorfields), an NHS organisation which has traditionally sat outside of the English Divisional VAT Registration has opted to join.
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VAT & Construction Post-Brexit?
by Berthold Bauer on January 17, 2018VAT accounted for nearly a quarter of all UK tax revenues in 2015/2016; so it’s virtually guaranteed it will remain in place after Brexit (VAT in one form or another being in place for many non-EU countries: Switzerland, Norway, Israel & now even the United Arab Emirates).
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Lease Car VAT Refund Opportunity
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Domestic Reverse Charge for the Construction Industry – HMRC Guidance published
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Delay to MTD for the NHS
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HMRC Guide for VAT on Construction
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Autumn Budget 2018
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HMRC Update – Zero Rating for Charitable Funds Purchases
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MTD Update – Delayed for NHS bodies
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NHSI advice: Suspend Subsidiary Plans
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VAT with no-deal on Brexit
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New HMRC VAT Rules: Building Contractors to become responsible for sub-contractors VAT