Category Archives: VAT

VAT

Charity strategic planning – think about tax!

Chris Yeates

Charities are certainly adapting to changing funding environments. In seeking to reduce reliance on grant funding, many charities have looked to increase enterprise trading and charging for services. But the tax impacts of developing new opportunities and even delivering the same services under different arrangements have sometimes been overlooked – these need to be on a charity’s radar.

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VAT on search fees

Tim Duffield

When acting for a potential buyer in respect of a property purchase, it is normal for a solicitor to engage with a third party to conduct searches. These will determine whether any restrictions apply over the property, and provide other relevant information of interest to the buyer.

Local councils are often instructed to carry out these searches, and in the past there has been no requirement for them to add VAT to their fees.

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Cycling and VAT

Brian Spooner

Since I was a lad I have, on and off, been a racing cyclist. I won a few races, became a club champion and once, memorably, rode 237 miles in 12 hours. Things change over the years, however, and recently I have not been able to ride without suffering some niggling pains. Despite all my years of cycling experience I haven’t been able to sort out the current problem myself.

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VAT on commercial property

Daniel May

When purchasing a commercial property there are many considerations to be taken into account. Matters such as the chosen business vehicle, legal agreements, stamp duty and corporation tax are often high up on the list of things to consider. Unfortunately VAT can be sometimes forgotten about until the last moment, or not even considered at all – a potentially costly mistake.

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Buy to let – some good news for a change

Hayley Stockwell

The recent taxation changes regarding buy-to-let property have not been favourable. There has been the introduction of the additional 3% Stamp Land Duty Tax on acquiring a second property and the significant reduction in capital gains tax rates announced in the 2016 Budget did not apply to residential property which make both buying and selling a buy-to-let more expensive.

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How might Brexit affect business?

Peter Glading

Lenin once said: “There are decades where nothing happens; and there are weeks where decades happen.”

I guess that after the referendum vote that is particularly true, and who could have predicted the political ramifications that have been played out since the results were announced.

At the moment we just do not know what the long term impact on the nation’s businesses will be, although many commentators are speculating what might or might not happen.

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Booking fees and card handling services

Daniel May

The Court of Justice of the European Union (CJEU) has recently overruled UK court decisions in the cases of Bookit Ltd and National Exhibition Centre Ltd. The issue at hand was whether amounts charged to those using credit or debit cards to book admissions to events and cinema screenings etc. could be treated as a separate supply exempt from VAT, or whether the liability should follow that of the underlying transaction.

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