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: 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...
VQOTW: PRICE REDUCTIONS AND CREDIT NOTES

VQOTW: PRICE REDUCTIONS AND CREDIT NOTES

My client invoiced for a supply of project management services but the project proved less complex and time-consuming than expected. As a result, as this is likely to be a regular client, he is going to agree that the price should be reduced, and a partial refund...
VQOTW: FINANCIAL INTERMEDIARIES

VQOTW: FINANCIAL INTERMEDIARIES

My client is an independent mortgage advisor, who is not VAT registered. Her turnover is above £85,000 and all of her income is either commission, which is paid by UK lenders, and flat fees received from customers seeking a mortgage. In the last 12 months, £75,000 of...
VQOTW: RENOVATION OF AN EMPTY DWELLING

VQOTW: RENOVATION OF AN EMPTY DWELLING

My client recently purchased an empty 3 bedroom bungalow that hasn’t been lived in for 4 years. He intends to spend £30k extending and refurbishing the property into a 4 bedroom house, which he and his family will move in to. He has the skill set to do some of the...

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