I hope you’re busy and keeping well. Personally, I’m relieved to be back at work for a rest after moving house, which is not recommended when it’s 28 degrees celcius outside!
VAT on directors’ costs
I’ve recently had a couple of enquiries about claiming VAT on directors’ expenses. This issue is a bit unusual because the VAT treatment has to take account of the unique role of directors and their “fiduciary” responsibilities. See my recent blog for more information about the subject.
My newest e-book VAT FOR RESIDENTIAL PROPERTY DEVELOPERS can now be purchased via Paypal for just £19. It’s essential reading for property developers, contractors and advisors alike, bringing together all of the important issues of VAT on construction, property sales and VAT recovery in one place. It will be available in print soon on Amazon – I’ll keep you updated.
I’ve recently been considering how much VAT can be claimed on “assets” (in this case vans) bought before a company registered for VAT. HMRC’s approach to this issue has been very inconsistent over the years, with many VAT officers INCORRECTLY disallowing VAT if the “asset” has been owned for a long time. HMRC confirmed their policy in Revenue and Customs Brief 16 (2016) so check this out in case you/your client are entitled to claim additional VAT on these costs.
…my ebook VAT for DIY residential property developers is also available for just £17. This was specially written for those of you building your own home or converting an existing property into a new home. Doing any kind of domestic building project is difficult and expensive and messy, so find out how to keep your VAT costs as low as possible right from the start, while saving time and hassle during the development.
In the meantime, hope you’re enjoying the warm (if not hot!) summer weather! Don’t forget to contact me firstname.lastname@example.org if you need help with any VAT issues.