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The angel cometh
Key points
- Hot take-way food is standard rated if the intention is for it to be supplied hot to the customer.
- Airbnb income is taxable because it is accommodation provided on a short-term basis.
- It is unlikely to be possible to claim input tax on Christmas staff entertainment.
- Care when gifting property to children in case output tax is due.
The head of HMRC’s Christmas Risk Assessment Compliance and Operational Maximum VAT Yield Revenue Team looked at her colleagues and stated this year’s number one priority: ‘We must make sure that December VAT returns submitted by businesses correctly account for VAT on their seasonal trading. There are too many businesses that get things wrong on their Christmas deals either overclaiming input tax or underpaying output tax.’
She did ...
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