ECJ Ruling Turns Take Away Food VAT On It’s Head!

Ray Stewart Business, VAT Leave a Comment

The European Court of Justice has issued a ruling that will deeply affect the government if adopted here – and which is hard to see how they could refuse.

The current UK VAT position for hot takeaway food is that it is standard rated and so subject to 20% VAT. However, a recent ruling means that the supply of hot food is zero rated as long as it is consumed immediately off the premises.

Budget – 2010

Ray Stewart General, Tax Matters, VAT Leave a Comment

Most people will now have heard the relevant bits of the budget given in Parliament today by the Chancellor, and lots of labour reaction to it. On balance I feel it was a very good budget given the circumstances. The rise in VAT will be unpopular but at least this brings us more into line with the rest of Europe. It has been 19.6% in France for some years and they are coping with it – so will we.

New VAT Fuel Scale Charges – Use From 1st May 2010

Ray Stewart General, Tax Matters, VAT Leave a Comment

Here is some more “good” news in the run up to the general election next week…

Are you a business that provides private fuel for your employees? If so, you must apply the new VAT Fuel Scale Charges detailed below from the 1st May 2010.

This means any VAT period that starts on or after 1st May 2010.

These scale charges are a reduction of the input tax claimed on the fuel used for private motoring and work hand in hand with the P11D taxable benefit for private fuel provided to employees.

The new quarterly charges are (figures are inclusive of VAT)…

VAT Question From A Publican!

Ray Stewart Business, Tax Matters, VAT Leave a Comment

I have just been asked about the VAT increase that is due to happen at 00:01 a.m. on the 1st January 2010 back to 17.5% and how it affect Pubs/Restaurants that are hosting a New Year’s Eve party. I thought it a good idea to clarify this point for everybody who may be wondering.

The rate is due to change at that moment, but for publicans/restaurants lucky enough (these days) to enjoy a busy New Year’s Eve party at their Premises,

Tax & VAT Fee Insurance Is ESSENTIAL For All Businesses

Ray Stewart Business, Tax Matters, VAT Leave a Comment

I know I have mentioned this a couple of times before but it still annoys me the number of clients that either refuse to pay out the £100 per year or so for the cover, or justify their non-action by thinking “it will never happen to me”.

Since April 2009 the investigation regime has changed. There were few trumpets and dancing girls to announce the change and consquently, 99% of business people have no idea things have changed and what it might mean for them.

HM Revenue & Customs are catching up to the 21st century

Don’t Forget The VAT Rate Change!

Ray Stewart Bookkeeping, Business, General, Tax Matters, VAT Leave a Comment

Just 24 hours (and a few minutes) to go until the VAT rate changes from 17.5% to 15%. Make sure you have changed your website settings, ebay settings, bookkeeping settings, spreadsheet settings – even your calculator settings to reflect the new rate. The new rate is 15%. When you are calculating the VAT amount in a total, such as a …

VAT – when 15% should actually be 17.5%

Ray Stewart Bookkeeping, Business, General, Tax Matters, VAT 1 Comment

I just wondered if anyone needed some clarification about actually when to change the rate of VAT they charge. I know our beloved chancellor said it will apply from 1st December but… There is an issue you must consider here when you are invoicing for the supply of goods and services. If you supplied goods and services before 17th November …