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VAT
VAT Fuel Scale Charge Changes from May 2013
As we are in the benefit reporting season, it is appropriate to advise that the VAT fuel scale charges (for reclaiming the VAT on fuel that has been provided for private use in a company car) have been amended for accounting periods commencing on or after 01 May 2013. See the below link. Comment Whilst [...]
Registering a Business with HMRC
Any new business that delays in registering with HMRC may incur a penalty. Form CWF1 could be used to notify HMRC of this new business. HMRC have speeded up the registration process by allowing this to be done online. Completing the below online form will also allow the creation of a Government Gateway account as [...]
Pasty Tax Comes into Force
We are providing this information, as we reported on it at the time of the Budget 2012 and it is right to bring the subject to its conclusion with this article. Effective 01 October 2012, the ‘Pasty Tax’ comes into force. This is to ensure that there is a consistent treatment in the application of [...]
The Samosa / Pasty Tax
Almost as soon as we referred to the Samosa Tax, it was nicknamed the Pasty Tax – so this is what we shall call it. The Pasty Tax was one of the ‘new’ taxes announced at Budget 2012, which we reported on at the time. Therefore, it makes sense to keep you updated on the [...]
The ‘Samosa Tax’
VAT has been charged on takeaway food for more than 20 years. However, ‘some new hot takeaway products’ are not being charged, most commonly from supermarkets and bakeries. They argue that foods like pies and rotisserie chickens are not sold to be eaten immediately, therefore, fall outside of the scope of VAT. The Chancellor is [...]
VAT and salary sacrifice schemes
HMRC provides further guidance on supplies made by employers to employees. In July 2011, HMRC provided guidance for employers on the requirement, following the Astra Zeneca decision, to account for output VAT on the provision of benefits that are provided under a salary sacrifice scheme. At the time, HMRC made concession of requiring accounting procedures [...]
VAT and salary sacrifice schemes
HMRC provides guidance on the VAT implications of the CJEU decision in the Astra Zeneca flexible benefits case. [VAT terminology: “input tax” is the amount of VAT paid when goods or services are purchased. “output tax” is the amount of VAT charged when goods are sold or services provided.] In a decision given on 29 [...]
Questions from our forum 24/02/11
Each week we receive a number of payroll questions on our forum, and here are this week’s batch. Can you help with any answers? Is provision of storage room a benefit in kind? We are moving to new offices and will have a spare room. We could let it out, and get about £300 pcm, [...]
