Home >
Taxation >
U.K. >
Tolley's VAT Planning 2012-13

Tolley's VAT Planning 2012-13

Author: Alex Millar
Publisher: LexisNexis U.K.
ISBN: 9780754543534
Published In: October 2012
Format: Paperback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

New Edition is available now !

Description
Contents

Details

Written by the winner of the Taxation Award for 'Tax Writer of the Year 2008', this practical guide for successful VAT planning addresses the many VAT issues that practitioners encounter on a regular basis. Taking a transaction-based approach, the book outlines how to make the most of the various VAT provisions and schemes for all sizes of business.

Each chapter analyses the pros and cons of various VAT positions, and this highly practical book includes worked examples and practical planning points that could help save money for clients.

Tolley's VAT Planning provides workable solutions to practical VAT problems, separating key planning points from complex legislation and guiding you through an otherwise complex set of legislation, regulation and schemes.

New material within Tolley’s VAT Planning 2012-2013 includes:

Bad debt relief and credit notes – recent approach of courts on timing issues
Place of supply rules – where are we now? When must VAT still be charged on an income raised to an overseas customer?
A major change – a new penalty system to be introduced for late VAT returns and payments
Salary sacrifice arrangements – new output tax rules from 1 January 2012
HMRC visiting approach – implications of the ‘spend to save’ strategy for certain sectors
New chapter – summary of key tribunal cases in last 12 months that are relevant to SMEs

Part 1: Registration issues
Registration
Deregistration
Group registration and divisional registration
Transfer of a going concern
Artificial separation of business activities

Part 2: Schemes
Cash accounting scheme
Annual accounting scheme
Flat rate scheme
Capital goods scheme
Other special schemes

Part 3: International issues
Imports of goods
Exports of goods
International services – place of supply
International services – other issues
Overseas traders and UK VAT

Part 4: Compliance
Dealing with errors
Interest and penalties
VAT inspections and appeal procedures
Impact of other taxes
Best judgement and unjust enrichment

Part 5: Zero rated and exempt supplies
Exempt outputs
Zero-rated outputs
Mixed supplies at different rates of VAT
Partial exemption – introduction
Partial exemption – special methods

Part 6: Land and property
Construction services
Property transactions – introduction
Property transactions – option to tax
DIY scheme
Pension funds

Part 7: Other matters
Supply of goods – discounts, credit notes, samples, bad debts etc
Input tax issues – non-deductible items etc
Motor and travel expenses
Supplies involving agents
Charities