VAT

A builder had a large contract to provide building services constructing a new bungalow on land owned by a farmer. He zero-rated his building services because he was building a new dwelling from bare land, but HMRC are charging VAT on the basis the bungalow cannot be sold separately

A director of a one-man IT company has been trading for many years, but the current single contract is to end soon. The company has large cash reserves and the director is considering the purchase of a yacht. He is thinking about winding up the company and buying it personally, but is concerned about entrepreneurs’ relief

Taxman explains view of judgment in CRC v Rank Group plc

London Clubs Management Ltd v CRC, Court of Appeal

A VAT-registered sole trader who is a carpet retailer has purchased a plot of land with his wife, on which they plan to build a house

Amounts can be used for VAT

Participants have until 31 Dec to complete registration

CRC v Rank Group plc (C-259/10 and C-260/10), European Court of Justice

Grattan plc v CRC, Upper Tribunal (Tax and Chancery Chamber)

Exempt bodies to more easily share back-office services

A property development business purchased a public house, with the intention of building about 20 residential units on the site. VAT was paid on the purchase, but can it be disapplied on a subsequent sale?

Edited by Nancy Cruickshanks; £144.95