by David Jones | May 18, 2023 | VAT
Today’s Blog concerns a football agent who received €4m for their part in an international transfer deal, zero-rated the transaction in their records, but then HMRC stepped in, demanding 20% VAT on the deal. VAT & Football Transfers: Background Sports Invest UK...
by David Jones | Apr 6, 2023 | VAT
Many Happy Returns, VAT. Yes, it’s true, everyone’s favourite tax celebrated its 50th birthday on 1st April, which is quite appropriate given that it was April’s Fools day. But rather than giving three cheers we should be asking whether this complex tax will ever be...
by David Jones | Jan 12, 2023 | Business Tax, Tax Investigations, VAT
Today I’m going to tell you the tale of a taxpayer, whose claim of not actively trading was blown out of the water by Google’s watchful eye, leaving him personally liable for VAT of £65,801. Zakir Hashmi was the sole director and only shareholder of Apollinaire Ltd,...
by David Jones | Dec 15, 2022 | Business Regulation, VAT
Recently, a client asked me an intriguing question as to why more and more suppliers are issuing invoices with “This is not a VAT invoice” marked clearly on the document. This gives rise to a series of questions, including what does this mean in terms of VAT, what is...
by David Jones | Nov 10, 2022 | Business Tax, Opinion, Self Assessment, VAT
Behind the curtains at Number’s 10 & 11 Downing Street, Jeremy Hunt and Rishi Sunak are desperately searching for clever ways to balance the Budget, without making it too obvious that taxes will be rising. Whilst Liz Truss and Kwasi Kwarteng believed that growth...
by David Jones | Nov 3, 2022 | VAT
HMRC have just announced that in January 2023 they are bringing in a new penalty and interest regime for late filing of VAT returns and the late payment of any VAT due. This will result in some significant changes, including the prospect of penalties applying to both...