List of frequently asked questions published by Markel Tax.
Note these FAQs were correct at the time of going to press and should be considered as principles based guidance. To check current validity, call the Markel Tax helpline.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on whether there is a requirement to register a bare trust with HMRC, on a property gifted to children, but currently held in trust by their parents.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on whether a client who ordinarily sells second hand goods and ordinarily accounts for VAT under the margin scheme, can charge VAT at the request of one of his customers.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on whether that it is correct that payroll software is applying the new NIC threshold to a June 2022 salary payment, event though the new thresholds are not meant to apply until 6 July 2022.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on whether a client, who bought a group of residential new build flats at VAT zero-rating, can claim VAT on agent fees if he sells them on empty, as new-builds.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on whether a client who is UK VAT registered on a voluntary basis ,and who currently keeps records manually, will soon be obliged to switch to operating under MTD rules.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on whether a client who is currently in the middle of selling their main home and purchasing their new home, will be affected by an additional SDLT percentage, as they also own an additional residential property which they rent out to tenants.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on whether a company will be subject to the income tax chargeable event gain rules following their disposed of an investment life insurance contract.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on whether money donated to charity from the sale of luggage and accessories falls outside the scope of VAT.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on what to do in the interim period while HMRC is processing and application to form a new VAT group.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on the tax implications of a loan made to a shareholder, which was subsequently written off.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on whether an overseas client's carried forward UK capital losses can be set against a gain from a UK commercial property they have sold.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on the liability for VAT on a service charge applied by a restaurant, depending on whether the charge is optional or compulsory.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on establishing which country a client, who is resident in two countries, can claim tax residence.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on what counts at the Place of Supply (POS) for goods moved between two continental European countries, by a UK based contractor.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on whether the commission income on sales of third party art by a gallery owner falls below the VAT threshold.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on the tax treatment of the sale of some bitcoin that a client was holding as an investment.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ about whether a house gifted to a client in 2010 by his mother, which she continued to occupy until her death, will put my client outside the Nil Rate Band for inheritance tax
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on the VAT status of a charity that is employing the services of a carpet fitter who is installing carpets in an existing commercial property.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ querying how to treat a capital gain made on the disposal of a residential property by a client , but not declared on a UK property form within 30 days of the disposal.
Premium Content: This is exclusive item - please log in or subscribe to view this item.
FAQ on what rate of VAT should be applied when a client charges an electric vehicle using a commercial charging point at a petrol station, whilst travelling for business.