Archives: Tax – VAT

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VAT – demolition not a new build

December 2020/January 2021 | Tax – VAT

The FTT heard an appeal by a housebuilder against the decision of HMRC to reject his application under the DIY housebuilders scheme for a refund of over £18,000 paid in respect of VAT on goods acquired and used by him. The housebuilder incurred the VAT on goods used by him for the purpose of extensive …

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Window blinds – zero rated

December 2020/January 2021 | Tax – VAT

The FTT has heard an appeal from a property development company in relation to a 1,600 home development in Essex. The FTT had to decide whether the supply of window blinds by the appellant (in the context of its property development trade) should be zero rated for VAT, allowing the appellant to claim over £40,000 …

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VAT change – early termination fees and compensation

November 2020 | Tax – VAT

Practitioners across a wide range of areas should consider the implications of ‘Revenue and Customs Brief 12 (2020): VAT early termination fees and compensation payments’ (published 2 September 2020). HMRC indicates that the brief is to give an update on the VAT treatment of compensation and similar payments following recent judgments of the CJEU. They …

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VAT change – some guidance

November 2020 | Tax – VAT

Practitioners whose clients may be affected by the above change to the VAT rules may find a recent article of assistance. It suggests that those engaging in lease transactions, for example, must now check back over their files for at least four years, if not seven. The article suggests that the drafting of compensation clauses …

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