Berthold Bauer VAT Consultants Managing Director Simon Merry was delighted to be asked to speak at the Qandor Property Club’s ‘Founding Forum Workshop’ on 19th September 2019.
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HMRC have recently confirmed their stance on ‘lost space’ in relation to the creation of bathrooms using an existing room in a disabled persons home – this was previously known as ‘restitution relief’.
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HMRC have released the long-awaited guidance on how the new VAT accounting process is to work between Sub Contractors & Main Contractors.
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As you probably know, most ordinary businesses have been mandated to start ‘Making Tax Digital’ as of 1 April 2019.
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The Chancellor yesterday afternoon announced the 2018 Autumn Budget, below provides a brief overview of the relevant NHS and VAT related statements:
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HMRC have recently updated the VAT Notice relating to purchases made by NHS Organisations using charitable funds. (https://www.gov.uk/guidance/charity-funded-equipment-for-medical-and-veterinary-uses-notice-7016 )
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HMRC have announced this week that Making Tax Digital will be delayed for some bodies, importantly including the NHS, until 1 October 2019. It was anticipated, given the complexities of the NHS and the requirement for monthly returns that they might introduce a delay for the requirement. This of course does allow everyone a little more time to ensure they have the appropriate means to submit their returns with the appropriate software, but it’s something we advise our Clients to prepare for as early as possible to avoid any potential problems.
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As many of you will probably know, NHSI have this week issued a short statement advising Trusts to put on hold any subsidiary plans until further notice.
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Last week HMRC announced their plans for VAT if the UK ends up leaving the EU in March 2019 without a deal. They have emphasised that the government is confident a deal will be reached, but they are introducing contingency plans as a precautionary measure.
READ MORE A new VAT Accounting procedure is to be implemented in October 2019 whereby the Main Contractor will become responsible for a sub-contractors VAT. In the same way in which the Construction Industry Scheme has addressed the missing tax aspect of labourers and small traders in the construction industry (by placing the burden of tax collection on Main Contractors & Developers); the purpose of the Reverse Charge for Construction Services is to reduce the occurrences of ‘disappearing trader fraud’.
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