Eloise Brown

We have a client who exceeded the £230k threshold to switch to the Standard rate on May 24 however has not responded to any attempts to confirm they are happy for us to switch. Recently HMRC has got in touch notifying the client they should switch from 1 November 24. Should we still attempt to backdate this to an earlier date to meet when the company actually exceeded or are you happy for us to proceed with 1 November 24 as confirmed in the letter?

And if it can be claimed, can you provide the specific box/page on the Self assessment?

To confirm no pension relief can be claimed on the Self assessment in this case then? the tax relief is lost entirely?

We have a company with over £200,000 profit and are looking to close. It has now passed the 12 month period with active trading profit and the majority of profit in this year is retained profits bought forward. Would it be reasonable to make a £100,000 (£50k for each director) into a pension before closing and utilise the losses in the earlier period when preparing the closing accounts? The past years of pension contributions have been missed and it is within their annual allowance utilising £50k of the £60k annual allowance for the year. Can you please confirm if the pension contributions can be made and the loss can be utilised?

I am a sole trader within the higher rate tax bracket and made a personal contribution in the 2023-34 tax year. When making the contribution, this was incorrectly declared as an employer contribution as opposed to a personal contribution, so the pension provider has not claimed the basic rate tax relief. The pension provider has confirmed they can not make changes to the classification of the contribution to claim the basic rate relief, so please can you clarify how I can get the relief due on the pension payment made? I do complete a self-assessment each year, can I get full relief on my self assessment tax return for both the basic rate and higher rate tax relief?

Can you please confirm if VAT would be charged in this situation? We have a company which is registered for VAT. Where we are facilitating a service provider tipping platform where customers pay the service provider a tip for their service but processed through our company's site. We add a processing fee for each transaction so therefore make money that way. The question is about VAT and whether the processing fees we are charging is VATable. Looking into it with HMRC case law ( https://www.gov.uk/hmrc-internal-manuals/vat-finance-manual/vatfin2450 ) shows that these fees would not be exempt from VAT and should be charged. However, does it make a difference that this is a tipping service which is exempt from VAT as opposed to a professing fee when buying a service or product? Thank you!

Can you please confirm yes or no if a trading company that becomes VAT registered can reclaim VAT back on subsistence (a quick deal in a restaurant) as part of the pre-registration services 6 months prior to registration? The business in question trade does not relate to food/ restaurants etc.