Member Since: 2nd Jul 2014
19th Jun 2017
I have a client who is paid by an umbrella company, has CIS tax deducted but is not VAT registered. He has never been asked to register for VAT either and why should he? The umbrella company would be charged VAT by the contractor and then reclaim that VAT in their next return - where's the sense in that, end result £0 VAT.
On the question of NEW BUILD, according to HMRC website SUB-contractors should still charge VAT (if registered) as per normal, only the Contractor zero-rates his invoices
14th Aug 2015
A simpler solution
Wouldn't it be simpler for the company to rent the flat! Then the company could class this as a business expense for use by staff who have to visit the company's head office whether on a regular basis or for the odd meeting etc. etc.
12th Feb 2015
Everybody. Thank you for all your comments. I shall be reading them and trying to understand the concepts of capital allowances, depreciation and balancing charges