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All FAQs by date

List of frequently asked questions published by Markel Tax.

Tax implications of gifted property

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June 2020

FAQ on the capital gains tax consequences if a client gifts a house to one of their children.

VAT and coronavirus grants

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June 2020

FAQ on whether income from government loans and grants to support businesses during the Covid-19 pandemic are subject to VAT.

VAT errors

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May 2020

FAQ on how what my client should do to rectify a error that was spotted when they were reviewing their VAT returns over the last 12 months.

Capital gains tax on a property held in trust

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May 2020

FAQ on how to handle the capital gains tax for a commercial property that was held as part of a trust and was subsequently sold on, without being rented out.

VAT on claims for subsistence

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April 2020

FAQ on on whether a VAT registered company can claim VAT back for round sum payments or allowances.

Rules for UK residential property disposals from 6 April 2020

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April 2020

FAQ on on the requirements for submitting a UK land return to HMRC, for a client planning to sell a UK residential property in the 2020/21 tax year.

VAT - partial exemption

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March 2020

FAQ on whether a client, who provides both taxable and exempt supplies, can reclaim the VAT back in relation the exempt supplies.

Personal tax

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March 2020

FAQ on on the tax implications of a client gifting rental property, which they own outright, to their adult children.

VAT registration

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January 2020

FAQ on whether a client, who has two separate business, needs to register for VAT given his combined income.

Residence/domicile and treatment of inherited land

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December 2019

FAQ on the assessment of residential status of the UK-born daughters of a client who has been a UK resident for 25 years ago but was non-domiciled when he arrived, for the purpose of selling a piece of land inherited from the man's father.

VAT flat rate scheme and vehicle sale

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December 2019

FAQ on whether a client, who is a builder on the Flat Rate Scheme, can use the second hand margin scheme when selling a vehicle at a value less than the price he originally paid for it.

VAT - box 7

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November 2019

FAQ on how an architect client should treat his occasional outsourcing to other architect firms, who are not VAT registered, and whether their work should be entered in box 7.

CGT Private residence relief

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November 2019

FAQ on whether a client can benefit from Private Residence Relief and Lettings Relief, even though the property, which was once their only or main residence, has been let out for several years.

Pre-registration - VAT

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October 2019

FAQ on whether a client can reclaim VAT on a vehicle purchased prior to incorporating his business, when he was working as a sole trader.

Application of PAYE following employment tribunal

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October 2019

FAQ on the rate of PAYE that should be charged on back pay, received by a female employee following a successful employment tribunal equal pay case.

Manually inputting paper records to comply with MTD

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August 2019

FAQ on whether a client has to retrospectively input a large volume of purchase data captured in ledgers into his digital records to comply with Making Tax Digital.

Tax relief on business premises

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August 2019

FAQ on whether a client a client can claim tax relief on the structure of recently-built extension to their business premises.

VAT registration if no UK supplies

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July 2019

FAQ on whether a UK-based consulting company, providing strategy consultancy services to USA and Canadian based businesses only, can avoid VAT on general business costs and and sub-contracted services.

Tax relief on commercial property

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July 2019

FAQ on whether a client can claim allowances on the building that his company has purchased.

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