- Client in health technology sector provided services B2B
- Client wanted to expand services to B2C
- Majority of services likely VAT exempt
- Risk of irrecoverable VAT if HMRC considers single supply of exempt services
- Reviewed client’s activities to identify supplies
- Identified robust arguments to support historic treatment
- Client now has better understanding of VAT applicability
- VAT exempt services through technology can create unforeseen costs
- Detailed reviews can identify risk mitigation arguments
- Consider VAT risks before raising finance or exiting business
Source: haysmacintyre.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "United Kingdom"
- Tribunal Rules on VAT Status of Government Grants for Free Educational Services by Colleges
- Colleges Win £2.8 Million Tax Rebates Amid VAT Rule Dispute with HMRC
- The UK Should Lower or Abolish, Not Raise, Its VAT Registration Threshold
- UK Should Lower or Abolish VAT Threshold to Boost Small Business Growth and Efficiency
- Lowering VAT Threshold Risks Breaching Labour’s Manifesto, Warns Self-Employed Association
