Accountancy
VAT and expenses savings
SMEs struggle with VAT rise
28/02/2011
It has been reported that people working in tax jobs at small and…
18.08.2011
IVA fees and VAT
A recent Tribunal ase could have significant repurcussions for insolvency practitioners implementing IVAs. In the case of Paymex Limited the FTT held that fees charged in connection with an individual voluntary arrangement (IVA) are exempt from VAT. It concluded that both the nominee and supervisory components of the IVA process constitute a single supply, made up of exempt services of negotiation debts and payment arrangements (not taxable debt collection). It is thought that HMRC may appeal the decision. Whilst exemption is good news for the client it could result in the IP being able to recover less VAT on their costs. In the meantime insolvency practitioners should review their fee structures and partial exemption position in the light of this decision.
Owner: Longboat VAT Advisers LLP
Contact: barry.stocks@longboat-vat.com
Accountancy
VAT and Holiday Homes
Holiday homes
The VAT position on holiday homes can be very complicated - as different terms and definitions are…
Would you like to promote an article ?
Post articles and opinions on Manchester Professionals
to attract new clients and referrals. Feature in newsletters.
Join for free today and upload your articles for new contacts to read and enquire further.