When a business acquires a commercial property that has been opted to tax, it may assume that VAT incurred on the purchase and subsequent maintenance is automatically recoverable. However, this assumption can lead to costly errors. The ability to recover input VAT hinges not merely on the option to tax, but critically on whether the business makes taxable supplies.

HMRC’s Schedule 36 powers under the Finance Act 2008 provide a broad legal framework for requesting information and inspecting records to check a person’s tax position. These powers apply across all taxes and operate independently of traditional enquiry routes such as self-assessment.

The High Income Child Benefit Charge (HICBC) affects individuals with adjusted net income over £50,000 where either they or their partner receives child benefit. The charge is tapered and fully applies at £60,000 income. This article explains how the rules apply—especially in cases of separation—and clarifies who qualifies as a “partner” under the legislation.

Tailored tax guides for various industries.

Understanding property and capital gains tax.

Tax considerations for contractors and freelancers.