VAT

A legislative oddity extends the VAT flat rate scheme membership by three months

By Graham Elliott; £48.50; paperback; 151 pages; Claritax Books

A Brazilian client is establishing a Formula 2 team in the UK. It is hoped income will be generated from sponsorship, hire fees and prize monies

Envoygate (Installations); Richvale (TC3361)

CRC v Colaingrove, Upper Tribunal (Tax and Chancery Chamber)

A discretionary trust owns a property that is let out and on which the option to tax has been exercised. The trustees are considering whether to transfer the property to a beneficiary

Sales by reps cannot be used to recover input tax

R v Pershad, Court of Appeal

Award Frames International Ltd (TC3365)

HMRC have introduced revised transitional rules following the axing of VAT concessions for the construction of student accommodation and dining halls and kitchens for students and school pupils.

The construction of a building intended for use solely for a relevant residential purpose is zero rated, as is  the first grant of a major interest in such a building by the constructor. The user must provide a certificate to the builder or developer as evidence that the building is intended to be used solely – at least 95% - for a relevant residential purpose.

Lai’s Ltd (TC3352)

Conference to cover new place of supply rules