Recent content by Sami Majoka

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    Asking for advice regards VAT and travel

    Hi Louisa, This is a great question, and you're right that the VAT guidance can feel a little unclear in situations like this. Based on my experience, here’s how this works: If you’re purchasing the ferry tickets as an agent on behalf of your customer, and you charge them the exact cost...
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    After advice on tax

    Under CIS, your mate deducts 20% tax on labour, which is fine, but when you sub someone else, your tax should only apply to the profit you make (£150 in your example), not the full labour amount. To fix this, record the £450 paid to the subby as a business expense on your tax return. This will...
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    VAT on selling business lease

    Whether VAT applies to the sale of your lease depends on the circumstances: If the sale is part of a going concern (e.g., transferring the business and assets), VAT may not apply if both parties are VAT-registered and the buyer continues the same business. If it’s just the lease being sold...
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