There are a number of VAT Schemes which are designed to simplify accounting for the tax. They may save a business money, reduce complexity, avoid the need for certain documentation and reduce the time needed to deal with VAT. Some schemes may be used in combination with others, although I recommend that checks should be... Continue reading »| Marcus Ward Consultancy Ltd
The subject of invoices is often misunderstood and can create serious issues if mistakes are made. VAT is a transaction tax, so primary evidence of the transaction is of utmost importance. Also, a claim for input tax is usually not valid unless it is supported by an original valid invoice HMRC can, and often do,... Continue reading »| Marcus Ward Consultancy Ltd
What can be used to make a claim? It is well known that in order to claim input tax on expenditure a business is required to have a valid tax invoice to support it. But what if there is no VAT invoice? Can HMRC accept any other evidence to support a claim? Well, the answer... Continue reading »| Marcus Ward Consultancy Ltd
The rules for sending, receiving and storing VAT invoices in an electronic format. What is an eInvoicing? eInvoicing is the transmission and storage of invoices in an electronic format without duplicate paper documents. The format may be a structured format such as XML or an unstructured format such as PDF. The benefits of eInvoicing eInvoicing... Continue reading »| Marcus Ward Consultancy Ltd
Business promotions are an area of VAT which continues to prove complex. This is further exacerbated by changes to the legislation at EU and domestic level and ongoing case law. The main points are; whether there is a supply, and, if so, what is the value of that supply? I hope that the VAT position... Continue reading »| Marcus Ward Consultancy Ltd
Although one of the “VAT basics”, it is sometimes quite difficult to establish the date for a tax point, and there is a great deal of case law which suggests that this seemingly straightforward exercise can throw up difficulties. The time at which a supply of goods or services is deemed to take place is... Continue reading »| Marcus Ward Consultancy Ltd
Latest from the courts In the Lycamobile UK Ltd First-Tier Tribunal (FTT) case, the issue was whether VAT was chargeable on the supply of a “Plan Bundle” at the time when it was sold and by reference to the whole of the consideration that was paid for it, or whether VAT was instead chargeable only... Continue reading »| Marcus Ward Consultancy Ltd
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TC05078 Blue Chip Hotels Ltd This is a FTT case which considered the VAT analysis of a supply in two ways. The appellant was an hotel which offered a wedding “package”. The package comprised; a room which was licensed for civil wedding ceremonies, the hire of other rooms, catering, accommodation, car parking and the use... Continue reading »| Marcus Ward Consultancy Ltd
The case of: General Healthcare Group Limited (GHG) Those that have read my articles in the past will recognise the topic of composite or separate supplies rears its ugly head on many occasions. It is a matter that has occupied businesses, advisers and HMRC since VAT’s inception, and shows no signs of disappearing any time... Continue reading »| Marcus Ward Consultancy Ltd
As many will know, there is a significant amount of case law concerning what may be treated as a composite supply at one VAT rate, and what are separate supplies at different VAT rates. The latest in this series is the First Tier Tribunal case of Stocks Fly Fishery The appellant is a trout fishery... Continue reading »| Marcus Ward Consultancy Ltd
This seemingly straightforward area can throw up lots of VAT issues and touches on a number of complex areas. If we look at inter-company charges (commonly called “management charges”) it is clear that such a charge can cover a lot of different circumstances. Do I charge VAT on a management charge? An easy yes or... Continue reading »| Marcus Ward Consultancy Ltd