HMRC Publish annual report and accounts 2023 to 2024

HMRC has published its latest report and accounts. Headlines £843.4 billion total tax revenues collected which is a 3.6% increase on 2022 to 2023 VAT – gross revenue was £277.7 billion, less: revenue repayable of…

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Industry updates, Newsletter
Posted on: 9th September 2024

DIY Housebuilders’ Scheme Top 10 Tips

DIY Housebuilders' Scheme Top 10 Tips If you build your own home or convert a non residential building into a home, there is a scheme available which permits you to recover certain VAT incurred on…

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Industry updates, Newsletter
Posted on: 9th September 2024

Understanding land and property issues

Understanding land and property issues Supplies relating to property may be, or have been; 20%, 17.5%, 15.%, 10% 5%, zero-rated,…

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Industry updates, Newsletter
Posted on: 9th September 2024

VAT Treatment of Serviced Apartments : The Realreed Limited Case

VAT Treatment of Serviced Apartments : The Realreed Limited Case Background Realreed owns a property called Chelsea Cloisters in Sloane Avenue, London. The property comprises; 656 self-contained apartments and some commercial units. 421 of these apartments…

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Industry updates, Newsletter
Posted on: 6th February 2024

The Partial Exemption Annual Adjustment

The Partial Exemption Annual Adjustment   What is the annual adjustment?  Why is it required? An annual adjustment is a…

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Industry updates, Newsletter
Posted on: 6th February 2024

HMRC have updated its Payments on Account (POA) guidance

HMRC have updated its Payments on Account (POA) guidance  What are POA? These are advance payments towards a business’ VAT bill. They are mandatory. HMRC will notify a taxpayer to make…

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Industry updates, Newsletter
Posted on: 6th February 2024

B2B and B2C – The distinction and importance

B2B and B2C - The distinction and importance A key feature of the place of supply rules is the distinction between B2B (business to business) and B2C (business to consumer)…

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Industry updates
Posted on: 14th September 2023

Land related services

Land related services   Whether a service is “related to land” is important because there are distinct rules for this type of supply compared to…

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Industry updates
Posted on: 14th September 2023

Is a cosmetic treatment exempt medical care?

Is a cosmetic treatment exempt medical care?  The Illuminate Skin Clinics Ltd Case   Background The Appellant runs a private,…

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Industry updates
Posted on: 14th September 2023

New HMRC guidance on error reporting

New HMRC guidance on error reporting   HMRC has published new guidance to assist taxpayers on how to deal with errors discovered on submitted VAT returns. The catchy title is: Check if you need to report errors…

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Industry updates
Posted on: 14th September 2023