Do you pay VAT on blinds?
Do you pay VAT on blinds?
HMRC has accepted the FTT ‘s decision that manual window blinds and shutters are considered building materials for VAT purposes. They can now be zero-rated when installed in a qualifying build. HMRC’s policy on curtains has not changed as they are not fixtures incorporated into a building.
What goes in box 7 on VAT return?
Box 7 the total value of purchases and all other inputs excluding any VAT. Show the total value of your purchases and expenses but leave out any VAT . You must include the value of: imports.
What is Box 9 on VAT return?
Box 9. Old label wording: “Total value of all acquisitions of goods and related costs, excluding any VAT, from other EC Member States.” New label wording: “Total value of acquisitions of goods and related costs (excluding VAT) made in Northern Ireland from EU Member States.”
What goes in Box 2 on VAT return?
According to guidelines set out by HMRC, Box 2 on your VAT return should be used to show any VAT on goods purchased from VAT registered business in other EC member states (B2B). Box 2 relates to goods and not services covered by the VAT reverse charg.
Can I claim VAT back on blinds?
electrical blinds are an electrical appliance as they require electricity [electrical appliances are excluded from VAT DIY scheme and VAT cannot be reclaimed].
Can you claim VAT back on blinds for new build?
That manual window blinds are ‘building materials’ as they are ordinarily incorporated by builders in properties built as single-family dwellings. They should be zero-rated for VAT purposes and the input tax claim was allowed.
What happens if I make a mistake on my VAT return?
As long as you haven’t yet submitted it, you can make a correction within the VAT return itself. Just write down the date on which you discovered the error, how it occurred, and the correct amount of VAT for that period. Your VAT refund will be based on the corrected figure.
What is included in a VAT return?
The VAT return includes your sales total (excluding VAT) and output tax – the VAT you charged on these sales and which needs to be paid to HMRC. This also includes VAT due on any other taxable transactions, for example, if you barter goods or take them for personal use.
Is insurance included in box 7 on VAT return?
A. The inputs box of the VAT return should include all “supplies” of goods or services received by your business. This includes exempt, zero-rated and VATable supplies, so you are right to include the insurance premiums in Box 7. Insurance is a supply of services, albeit exempt from VAT.
How do you account for reverse charge VAT on VAT return?
If your software cannot show the amount of VAT to account for under reverse charge, you must:
- state that the VAT is to be accounted by the customer.
- add wording to the invoice to say ‘customer to account to HMRC’ for the reverse charge.
- make sure customer can identify reverse charge goods or services.
Can you claim VAT back on architects fees?
You cannot claim back VAT for professional services, e.g. architects, engineers, surveyors and planning fees.
Can I claim VAT back on new windows?
A special exemption means you can recover the VAT on replacing rotten wooden windows with uPVC or another modern material, even though the usual rules say you can’t reclaim VAT on new goods or on repairs that make an improvement.
Do you have to pay VAT on blinds?
The blinds are individually measured to precision and fitted by a skilled subcontractor, using specialist tools and proprietary fittings. While building materials bought alone are subject to VAT, the sale of new homes, and the construction services supplied in building them, are zero-rated for VAT purposes.
Why did HMRC change its guidance on VAT?
HMRC looks set to change its guidance after a property developer won a case at a First Tier tribunal (FTT) challenging the VAT rating for window blinds installed in new homes Wickford Development Co Ltd was appealing against two VAT assessments, one for £35,826 and the second for £6,625.
Can a window shutter be zero rated for VAT?
Following the outcome of various tax tribunals HMRC has revised its VAT policy which means manual window blinds and shutters are now considered building materials for VAT purposes and can be zero-rated when installed in a qualifying build
What are the changes to the VAT return box labels?
Boxes 2, 4, 8 and 9 have their labels and accompanying notes changed. There are no changes to the labelling of boxes 1, 3, 5, 6 and 7. What are the changes to the VAT Return box labels?