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Number games
Key points
- Confusion over whether a company had to join the large payers scheme.
- Ensure clients enter the correct figures into new making tax digital software.
- Check if a client who has just exceeded the registration threshold may have justifiable cause to be exempt.
- The place of supply for building work is always where the land or building is located.
As the panellists often say on the popular BBC programme Dragon’s Den it is all about the numbers. That is definitely the case in the VAT world and here are three tales about things that went wrong with the numbers: a policy mistake by HMRC with the large payers VAT scheme; a problem with flat rate scheme calculations under making tax digital (MTD); and the turnover to include and exclude with the VAT registration threshold.
Large payers scheme
From a cash flow perspective it is best for...
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