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Happy ending

16 November 2016 / Neil Warren
Issue: 4576 / Categories: Comment & Analysis , VAT
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The tale of a compliance visit when the officer raised an assessment, but the taxpayer did not incur a VAT cost. How did this happen?

KEY POINTS

  • Landlords gave the tenant a year rent-free in return for it paying for building work.
  • Capital expenditure belonged to the landlords.
  • Significance of the nil assessment.
  • Focus on the outcome rather than the process.

 

Sports psychologists often debate whether the key issue for a player is to focus on the outcome of their participation in a particular sport (achieving a victory) or the processes that leads to the outcome (deal with one ball at a time in the case of cricket say).

I was recently involved with an interesting HMRC compliance visit in which both the officer and I were concerned with the outcome. But as I write this article on a wet Manchester morning I am still not sure whether the processes we agreed en...

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