Newsletters
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What is the VAT treatment of free samples?
Your business is keen to boost sales of goods in retail stores, so you have decided to provide free samples to your customers with retail shops, and let them hold your goods on a sale or return basis. How do you deal with VAT in these situations?
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When does dwelling ownership begin for PRR purposes?
The First-tier Tribunal (FTT) recently had to decide if private residence relief (PRR) began when a couple moved into their home or when they bought the land on which it was built. This proved a surprisingly tricky question. What did the FTT decide?
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Writing off a loan to a company
A few years ago you lent your son's company money to help get the business off the ground. It’s now established, but it can’t afford to repay you. You decided to waive the loan but are there any tax consequences you need to be aware of?
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Increasing your tax-free capital gains
The annual capital gains exemption has barely increased in recent years. But in the right circumstances and with some planning you can manufacture your own increase. How’s it done?
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Can you avoid a penalty for a one-off mistake?
You can ask HMRC to suspend a penalty it would otherwise charge if a mistake made in a document, e.g. your tax return, results in an underpayment of tax. But it generally won’t grant a suspension for one-off errors. How can you change its mind?
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VAT and private use of a company van
While generally you don’t permit your employees to use their company vans for private journeys, you allow some leeway while they are working on site. Does this affect the VAT you can reclaim on the cost of the vehicle?