What does “non-business” mean for VAT purposes?

This is another of those never-ending (or never-finally-answered) questions. It is important because if you incur VAT on any cost that is used for a non-business purpose, that VAT is not recoverable. In fact it is not even defined as “input tax” at all.
 
In practice, the problems usually begin when you incur VAT on costs that are used partly for a business activity, and partly for a non-business activity.

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How #VATMOSS became a great big #VATMESS

admin

As we have previously reported, and written a number of times, that the 1 January 2015 sees a substantial change in the law on VAT, involving digital services being taxed for VAT where the customer resides, not where the supplier resides. This change was brought about as a result of a growing annoyance within the EU and other international organisations such as the OECD (Organisation for Economic co-operation and Development) that large (and let’s be honest, mostly USA based) companies were using the current VAT rules to get an advantage.

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Google tax and the Stamp Duty bonanza – the election starts here!

Martin Hales

Amongst the many measures announced yesterday in what was a fairly comprehensive (pre-election) Autumn Statement, Chancellor George Osborne, perhaps surprisingly, spurned demands for punitive measures against those professionals responsible for designing aggressive tax-avoidance schemes. Instead, he has announced new sanctions against multi-nationals that divert profits to escape tax.

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Autumn Statement 2014: positive announcements for charities

Giles Kerkham

The festive season has got off to a great start with good news for charities in the Autumn Statement. The National Press coverage is concentrating on stamp duty reforms that will affect you if you are buying a home, amongst other announcements. Hidden behind those headlines are a number of positive measures for charities; perhaps the most direct measures are the extension of VAT rebate schemes for hospices and search and rescue charities.

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Application form top tips

Larking Gowen Careers

Another application form? Maximise your chances of success by reading our top tips on making your application stand out from the crowd!

We see numerous application forms through our human resources team: particularly at this time of year when applications are open for our 2015 trainee positions. We are happy to share some of our top tips:

Know your AAT from your ACA.

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