Practical points 2018 - VAT and duties
- Publish date: 16 January 2018
- Archived on: 01 January 2019
Guidance from ICAEW's Tax Faculty for practitioners on the latest developments in practice, policy and legislation related to UK VAT and custom duties. These brief practical points are published each month in the faculty's magazine TAXline.
However, in applying the test, not all expenses and purchases are taken into account – only those falling within the definition of relevant goods, which excludes:
From 1 November 2018, all property management companies, and companies supplying similar goods and services in similar situations, that have not correctly applied ESC 3.18 must correctly account for VAT. This is explained in VAT information sheet 07/18, which provides guidance on: