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Hidden surprises

23 July 2013 / Neil Warren
Issue: 4412 / Categories: Comment & Analysis , VAT

A potential VAT problem for overseas landlords – and a bank account horror story


  • A zero VAT turnover threshold from 1 December 2012 in some circumstances.
  • Does a non-established taxable person have a business establishment?
  • Note the difference in the VAT treatment of holiday and residential lettings.
  • Should taxpayers consider the appointment of a
  • UK-based property managing agent?
  • The importance of HMRC having the taxpayer’s correct bank account details.

How many of us complete a self-assessment tax return for a UK property owner who is resident overseas? Or do any readers act for clients who trade in the UK as property managing agents?

If so then read on – you might be in for a big surprise about VAT. Whatever you do don’t stop reading because you do have such clients but their turnover is below...

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