.png)
.png)
Festive VAT tips
Key points
- Taxpayers must pay their VAT returns by the due date in 2023 to avoid an interest charge even though penalties will not be applied until a payment is fifteen days late.
- The FTT in Innovative Bites Ltd (TC 8605) decided that mega marshmallows are zero-rated due to the roasting process for making ‘s’mores but small marshmallows are still subject to VAT.
- Someone renting out a property can submit form VAT1614A to HMRC and ask for a belated notification to be applied back to the date when he first made his decision to charge VAT on the rent.
- Gifts of goods to charity will be zero-rated if sold in the charity’s shop (or online).
‘I am the VAT fairy from Vatland’ said Tinkerbell to Manchester based accountant Joseph Dickens. ‘I am here to give you free answers to five VAT questions of your choice – to ease...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
