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Real estate & Construction

VAT: Reverse charge for builders delayed until 2020

In a move hailed as a 'victory for common sense', the government has announced a 12-month delay to the introduction of the domestic reverse charge VAT for construction services, citing industry concerns and Brexit as the reasons behind the postponement.

Do you need to make a tax disclosure?

HMRC has a new £100m weapon to help identify individuals who may not be declaring all of their income and, therefore, paying too little tax.  

Your Personal Tax Account

Have you checked your personal tax account recently? If at all?  Latest research from the Post Office shows that 46% of UK workers have never checked their personal tax account.  

Do you own a holiday let property?

There is a number of tax incentives that you can take advantage of if you own and let a Furnished Holiday Lets property (FHL). They include:You can claim Capital Gains Tax reliefs for traders (Business Asset Rollover Relief, Entrepreneurs’ Relief, relief for gifts of business assets and relief for loans to traders),

Five tax changes buy-to-let landlords should be aware of in 2019

The 2019/20 tax year started on the 6th April and contains a number of changes which buy-to-let landlords should be aware of for the year ahead. 

Maximum age and term increases will benefit ‘older’ buy-to-let investors

Typically, those who are older and have applied for a buy-to-let mortgage have faced barriers due to the limited options available to them. 

Expenses you can set-off against rental income

The expenses you claim against your property income will need to follow the usual HMRC ruling that the costs must be incurred wholly and exclusively for the purpose of renting out the property.

How will the VAT reverse charge for construction work?

From 1st October 2019 a VAT reverse charge will apply in the UK to supplies of construction services, this will mean that around 300,000 construction businesses will be required to change their accounting systems.   

Reporting tips for building contractors

HMRC recently published a list of helpful reminders regarding the submission of monthly returns to HMRC. This article lists some of the points highlighted.  

Reporting tips for building contractors

HMRC recently published a list of helpful reminders regarding the submission of monthly returns to HMRC. This article lists some of the points highlighted.  

Recent tribunal triggers debate over capital allowances

Commercial property firms are being urged to ensure their capital allowance provisions are in order after a tribunal sparked a debate over claims.

26% of construction companies at risk of going bust

Our research shows, 26% of construction companies currently exhibit warning signs that indicate they are at risk of failure*.

Have you fully considered your option to tax position?

Making the decision whether or not to exercise the option to tax in relation to property is not always straightforward, and it is essential that the ongoing VAT and commercial implications of any options to tax are continually monitored and reviewed.

Using an overseas contractor for construction? Don’t dig yourself a VAT hole

In typical construction projects, a construction company’s services are seen as supplied where the construction takes place.