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[19 Mar 2018 | Comments Off on Reclaiming foreign VAT | ]
Reclaiming foreign VAT

Your UK VAT registered business can get a refund of EU VAT for most goods and services you buy for your business.

You cannot normally reclaim GST and VAT from countries outside the EU. Nor can you reclaim EU VAT if the expense is not wholly and exclusively for the purposes of your business.
Moreover:

you need a proper VAT receipt from the actual supplier, addressed to your business, showing the rate of VAT charged and the exact amount of VAT charged
a “proforma invoice” is not a proper VAT receipt
what you can reclaim …

headline, on the bridge, one offs »

[16 Nov 2015 | Comments Off on Buy To Let – new tax rules | ]
Buy To Let – new tax rules

Two new sets of rules come into force over the next few years.
No more “10% Wear and Tear” allowance
The allowance is being abolished. Starting on 6 Apr 2016, landlords who rent out furnished accommodation will no longer be able to claim the flat rate 10% allowance every year, and instead will be permitted only to claim the actual costs of like-for-like renewals and replacements.
Restriction of loan interest relief
Over a three year period, starting on 6 Apr 2017, the amount of tax relief you can claim for loan interest paid, will …

annual, headline »

[3 Jan 2013 | No Comment | ]
Child Benefit is now a Tax Return issue!

New rules governing the entitlement to child benefit come into force on 7 Jan 2013.
Until now, child benefit has never been means tested and has always been paid to the mother of the child. If your household income exceeds £50,000 then the chances are that the child benefit will be clawed back from you, in stages, so that by the time your household income exceeds £60,000 the whole amount of your child benefit may be reduced to Nil.

The rules (as you might expect) are not quite as simple as that, …