August 19, 2010

Mechanised cash bingo

HMRC have issued a new Business Brief 40/09 and are inviting claims from taxpayers who have overpaid output tax on what should now be treated as an exempt supply. However, HMRC point out that further bingo duty may be due. With regard to slot machines the High Court has yet to issues its judgment.

Any business with a bingo duty assessment may wish to seek further advice.

HMRC announce that they are changing their bank details

Taxpayers should make sure they use the correct bank details from July 2009.

Sort code – 08-32-00
Account – 11963155

Revised interpretation of ‘occupation’ of property for VAT purposes

HMRC have issued Business Brief 33/09 which sets out their revised policy on the meaning of occupation. The House of Lords decided that ‘occupation’ requires not only physical presence but also permanence, control over the property and exclusivity. HMRC invites claims from taxpayers who have incorrectly been denied recovery of input tax.

Three year capping being extended to four

All VAT claims are now capped at four years or back to April 2006 whichever is shorter.

Adjustments of errors

Recently issued Public Notice 700/45 outlines the ins and outs of correcting errors and gives details of where to send notifications.

If you require further information regarding any of the points above please do contact us.

Elysian Associates
August 2009

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