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An update on HMRC’s latest position on four important VAT issues.
KEY POINTS
- Four common VAT issues are giving cause for concern.
- HMRC has backtracked a little on pre-registration input tax but a final decision is awaited.
- Ensure that flat rate scheme choices are fair and reasonable and keep full supporting records.
- HMRC says delays in its option to tax unit and the processing of VAT1614 forms are now over.
- A definitive ruling is still required on VAT recovery on the residential conversion of pubs.
This article is a ‘where are we now’ update on four different issues that have been rumbling around the VAT world like an unexploded volcano over the past 12 months or so. They are relevant to many advisers and clients but positive progress is being made in them all.
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