VAT basic principles

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Practice notes
VAT on composite suppliesSingle composite supplies vs multiple suppliesWhere a supply comprises a number of different elements with varying VAT...
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Produced in partnership with Martin Shah and Gary Barnett of Simmons & Simmons LLP 19th May
Practice notes
Commercial service charges—VAT implicationsThis Practice Note is about the VAT treatment of non-residential service charges. General positionService...
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Produced in partnership with Martin Scammell 19th May
Practice notes
Offshore receipts in respect of intangible property (ORIP)Since 6 April 2019, a person that is neither UK tax resident nor resident in a full treaty...
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19th May
Practice notes
FATCA in the UK—the UK:US Intergovernmental Agreement: an outlineIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit...
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Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 19th May
Practice notes
Tax considerations on a loan agreement—the tax gross up clauseIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit...
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Produced in partnership with Eloise Walker of Pinsent Masons 19th May
Precedents
1 Withholding and grossing up 1.1 All sums payable under this [Agreement] by or on behalf of any party (for the...
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19th May
Practice notes
Taxation of UK LLPsA UK limited liability partnership (LLP) is a body corporate for company law purposes, but is generally taxed as though it were a...
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19th May
Practice notes
Section 198 and 199 elections on transactions involving real estateThis Practice Note describes the law and practice relating to elections under...
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Produced in partnership with Martin Wilson 19th May
Practice notes
Loan capital exemption from stamp dutyDebt which:•qualifies as loan capital (whether it is short or long-term debt), and•satisfies further conditions...
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19th May
Practice notes
The Budget and Finance Bill processThe Budget is a Parliamentary event at which the Chancellor of the Exchequer makes important announcements relating...
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19th May
Practice notes
Capital reduction demergersThe reasons why a company might carry out a demerger, and the different ways in which a demerger may be structured, are...
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Produced in partnership with Zoe Feller of Bird & Bird 19th May
Q&As
Corporate redomiciliation—can a non-UK company redomicile into the UK?It is possible for a non-UK incorporated company to redomicile to the UK....
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19th May
Practice notes
Why have a tax covenant?It is market practice for a tax covenant, also known as a tax deed, to form part of the transaction documents in respect of a...
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19th May
Practice notes
R&D capital allowancesFORTHCOMING CHANGE: At Spring Budget 2021, the government announced a wide-ranging review of research and development (R&D)...
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Produced in partnership with Anne Fairpo of Temple Tax Chambers 19th May
Practice notes
Transfer of a trade under common ownershipSometimes the restructuring of a business will involve a company transferring an existing trade to a...
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19th May
Practice notes
SDLT group reliefFORTHCOMING CHANGE relating to FA 2008, Sch 36: In its Tax Information and Impact Note (TIIN) on freeports, the government announced...
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19th May

Most recent VAT basic principles content

Practice notes
VAT—zero-rated and reduced rate suppliesCoronavirus (COVID-19)—PPE: A temporary zero rate of VAT applied to supplies of personal protective equipment...
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22nd Sep
Practice notes
VAT—European legal principlesFor EU Member States, Council Directive 2006/112/EC (the VAT Directive) lays down the infrastructure for a common VAT...
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Produced in partnership with Etienne Wong of Old Square Tax Chambers 21st Sep
Practice notes
VAT recovery on corporate transactionsVAT is recoverable by a taxable person if it is attributable to taxable supplies made in the course or...
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21st Sep
Practice notes
VAT issues on the supply of staffIP COMPLETION DAY: The Brexit transition period ended at 11pm on 31 December 2020. At this time (referred to in UK...
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16th Sep
Practice notes
VAT bad debt reliefThis Practice Note outlines how a taxable person who has accounted for and paid VAT on a supply, but who is not paid the price for...
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Produced in partnership with Etienne Wong of Old Square Tax Chambers 16th Sep
Practice notes
VAT treatment of management charges and other intra-group paymentsIP COMPLETION DAY: The Brexit transition period ended at 11pm on 31 December 2020....
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16th Sep
Practice notes
How and when must a business pay VAT?COVID-19 VAT measures: On 20 March 2020 the government announced that it had suspended the next quarter of VAT...
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16th Sep
Practice notes
The cost sharing exemption from VATWhy is a cost sharing exemption needed?The cost sharing exemption (CSE) has been included in Directive 2006/112/EC...
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14th Sep
Practice notes
Disclosure of tax avoidance schemes—VAT and other indirect taxes (DASVOIT)FORTHCOMING CHANGE relating to Finance Bill 2021–22: Finance Bill 2021–22...
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13th Sep
Practice notes
VAT treatment of intermediaries and agentsIP COMPLETION DAY: The Brexit transition period ended at 11pm on 31 December 2020. At this time (referred to...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 8th Sep
Practice notes
When can a person recover VAT?IP COMPLETION DAY: The Brexit transition period ended at 11pm on 31 December 2020. At this time (referred to in UK law...
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8th Sep
Practice notes
Disclosure of tax avoidance schemes—VAT (before 1 January 2018) [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.This...
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6th Sep
Practice notes
VAT groupsMany companies operate in groups, broadly meaning that they are under common economic ownership. The existence of groups of companies is...
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5th Sep
Practice notes
VAT deregistrationA person who is registered for VAT in the UK may be deregistered (ie their VAT registration may be cancelled) on a compulsory or...
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Produced in partnership with Pinsent Masons 5th Sep
Practice notes
Exemptions from VATVAT is chargeable on supplies of goods and services made in the UK by a taxable person in the course of a business, unless those...
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31st Aug
Practice notes
VAT—when is a person in business?IP COMPLETION DAY: The Brexit transition period ended at 11pm on 31 December 2020. At this time (referred to in UK...
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Produced in partnership with Michael Ridsdale of Wedlake Bell LLP 27th Aug
Q&As
Is it possible to reclaim value added tax (VAT) on the purchase of a property if the purchaser has not paid a sum equal to the VAT to the seller and...
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22nd Aug
Practice notes
VAT invoicingA VAT invoice must normally be provided when a VAT registered person supplies goods or services to another VAT registered person. A VAT...
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22nd Aug
Q&As
Is a licence of intellectual property by an Australian company to a UK private individual subject to UK VAT?In order to assess whether a cross-border...
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16th Aug

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