VAT Revision Notes

Question 1

how are lease of buildings treated for VAT purposes?

Answer 1

lease of buildings are exempt from VAT

including rents and premium

Question 3

how do penalisations work for late SDLT over 12months?

Answer 3

maximum penalty of SDLT payable

in addition, fixed penalty of 200 is payable

Question 4

how do you handle fuel scale charge for VAT?

Answer 4

only charge output VAT on the fuel scale charge

1/6*scale charge if VAT inclusive