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Christmas parties, gifts & VAT

Often, at this time of year, businesses will take the opportunity to reward staff with a gift or a Christmas party.  They may also offer gifts to customers to show appreciation of their custom and promote the business.  It...

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Pension Fund update

There are two important updates to note as regards VAT and pension schemes. The first relates to VAT chargeable on supplies of fund management services by insurers. In its Revenue and Customs Brief 3/17 HMRC announced a change in...

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CVC Blog: VAT and disbursements

A recent First Tier Tax Tribunal (FTT) decision has highlighted a risk in relation to the VAT treatment of disbursements. “HMRC guidance states that to treat a payment as a disbursement all of the following must apply: you paid...

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CVC Blog: Senior Accounting Officer regime

The first appeal by an individual Senior Accounting Officer (SAO) has been heard by the First Tier Tribunal (FTT). HMRC imposed penalties totalling £10,000 on the individual for failing to take reasonable steps to ensure that the company that...