Member Since: 19th Sep 2000
27th May 2019
Out of interest, do you know what the month 12 submission figure was?
No, not least because I wasn't acting back then. What I posted is all I have for that year - and some subsequent years look odd. The company has now ceased, so it's a relatively simple matter of calling HMRC and asking for a rebate of whatever's on the account.
21st Aug 2018
Tony, that was my feeling as well. But I know enough about VAT, and especially VAT on buiildings / building work, to know it's worth checking...
21st Aug 2018
My concern is with section 5 of VAT Notice 708 - whether the SALE of the finished building can be zero-rated. Your point seems to relate to section 3 - the question of whether the builders / contractors can charge my client 0% or 5% VAT.
My client is the owner / developer, not a builder.
1st Jun 2018
I think VAT is going ahead. They have published the legislation.
Regulation 7 of The Value Added Tax (Amendment) Regulations 2018
19th Apr 2018
Thanks for that. I see the point of confusion now. Para 23.14 et seq applies to the rendering of services, not the production of goods. That's the key to it.
18th Apr 2018
Although the actual profit can't be measured until sale, an estimate can be made. What is the finished project estimated to sell for? Based, of course, on current information, state of the market etc.
What percentage of the project has been completed?
These are questions, I think, which a proper valuer would be able to give an opion on.
26th Mar 2018
I have a further wrinkle to add to this tangled web (mixed metaphor, I know, sorry).
My client is a director of his own company. He has received a letter from HMRC:
"We're writing to let you know that the last Self-Assessment (SA) tax return you'll need to complete is for the year ended 5 April 2017."
As noted in this thread, this contradicts the advice on HMRC's website.
It goes on to say "If your circumstances change, you can easily view and update your tax information online at any time using your Personal Tax Account (PTA)..."
This is form letter SA251.
Now I'm going to have to have a further conversation with him...
8th May 2017
"if HMRC call me I usually refuse to speak to them on the basis that I cannot know for sure who they are, and the fact that they always start by asking for confidential information."
This rings a vague bell with me. I thought this issue came up some time ago (a couple of years, maybe) and was resolved...
I can't remember exactly how, but I have a vague recollection that there is something in HMRC internal manuals dealing with this. Sorry I can't be more precise.
9th Jan 2017
Many thanks. I have done that. Now to check other clients... Luckily my practice is small.
24th Aug 2015
Not sure, but...
I suspect that XL is coded so as to ignore the region settings for number formats. I have a vague memory of being told that some years ago.