As you may be aware, where you incur expenditure of over £250k (plus VAT) on a property project, you are very likely to have what is called a ‘capital goods scheme item’. Very broadly, this means that recovery of VAT incurred on the project must be assessed over a 10 year period and adjusted to reflect any change of use over that time. Continue reading
We have recently had considerable success in resolving a number of VAT dispute cases with HMRC.
In total, the VAT at stake in these cases was in excess of £1 million. This has now either been refunded to clients, or, assessments for the additional tax HMRC deemed to be payable have been withdrawn or substantially reduced. Continue reading