VQOTW: CALL-OFF STOCKS

VQOTW: CALL-OFF STOCKS

My client sells gym-wear and has been approached by a German VAT registered Amazon trader to supply them with 1000 t-shirts which are to be shipped to a warehouse in Germany – this will be the equivalent of six months’ worth of stock. The customer will take the stock...
VQOTW: INCORRECTLY CHARGED VAT ON TOGC

VQOTW: INCORRECTLY CHARGED VAT ON TOGC

My client is buying a business and the vendor wants to charge VAT. Is this correct and if so can my client recover this as input tax? If your client is actually buying the assets of the business alone, then yes, it may be correct. It is far more likely, however, that...
VQOTW: THE BREXIT DEAL

VQOTW: THE BREXIT DEAL

My client sells goods wholesale from his UK warehouse to EU VAT registered businesses – he has been preparing himself for Brexit, including obtaining an Economic Operator Registration and Identification number (EORI). Now that a deal has been agreed, with a transition...
VQOTW: INPUT TAX ON TOGC

VQOTW: INPUT TAX ON TOGC

My client is in the process of selling part of his business which comprises exempt residential lets and taxable garden maintenance, design and landscaping services. It has become too much for him so he is selling part of the taxable side of the business – the garden...
TQOTW: LOANS TO EMPLOYEES

TQOTW: LOANS TO EMPLOYEES

Many of my small company clients often have overdrawn director loan accounts. When considering minimising the beneficial loan charge, what interest can be taken into account to reduce or cancel the benefit charge? The employment-related loan legislation is designed to...
TQOTW: TRAINING COSTS

TQOTW: TRAINING COSTS

My client is a surgeon who is currently employed by the NHS. During the year, he has attended various training courses to enable him to keep up to date with changes in the profession and gain new qualifications to further his career. Can he deduct the cost of...

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