Twelve days of Taxmas

HO HO HO! Perhaps tax and tax planning matters may not be the first thing on everyone's minds when it comes to planning the Christmas festivities but as you all gather round the tree to sing those festive songs it is a little known fact that at least one of them has its roots in tax legislation and VAT tribunal decisions.

Twelve drummers drumming

Those drums will probably qualify for capital allowances as plant and machinery calculated on the usual 25% reducing balance basis.

Eleven pipers piping

As a group of musicians supplying their services could the pipers be exempt from VAT? There is a VAT cultural services exemption but as the Bournemouth Symphony Orchestra recently discovered the exemption only applies to organisations that are managed and administered on a voluntary basis by persons who have no direct or indirect financial interest...