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Christmas treats
KEY POINTS
- Conditions for correcting a VAT error on a tax return.
- Partial exemption de minimis on input tax on rental property expenses.
- Business expenditure and the flat rate scheme limited cost trader category.
- Leaving the cash accounting scheme.
- Changes to the treatment of business to customer digital sales within the EU.
It’s all about the numbers say the multi-millionaire potential investors on the BBC’s hit television show Dragons’ Den. At this stage the business owners seeking a deal often quote a series of figures that are clearly wrong – is your gross profit really lower than your net profit a confused investor might ask. Anyway to finish 2018 with a Taxation Christmas cracker here are five festive VAT situations in which the correct answer depends on...
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