This practical guide for successful VAT planning addresses the many VAT issues that practitioners encounter on a regular basis.

Taking a transaction-based approach, it provides workable solutions to practical VAT problems, separating key planning points from complex legislation and guiding you through an otherwise complex set of legislation, regulation and schemes.

This edition of Tolley’s VAT Planning 2011-12 covers:

• Clear guidance on ‘where we are now’ concerning the place of supply rules after major changes to the rules in 2010 and 2011. When must VAT still be charged on services supplied to overseas customers?
• The combined special method for partial exemption – new opportunities from 1 January 2011 to deal with VAT paid on non-business expenses
• Latest tips and pitfalls in relation to the flat rate scheme
• A new chapter containing tips about applying checks to suppliers and customers – particularly important for overseas transactions
• VAT and penalties – recent clarification from the courts about ‘careless’ errors and when they apply
• VAT issues in 2010 and 2011 Budgets
• Important advice on cash flow issues and the payment of VAT
• Latest changes to capital goods scheme and assets with some non-business use
• Practical implications of recent UK and European cases
• Best ways of dealing with cross border transactions
• How to deal with the HMRC at a time of public sector cuts
• Increase in standard VAT rate to 20%

Key Benefits of Tolley's VAT Planning 2011-12:

• Concise yet thorough explanation, each chapter has a standard layout and an opening set of bullet points enabling at-a-glance understanding of the text ahead
• Identifies key areas of note in VAT planning, for example when it is advantageous for a business to adopt a special scheme or a method of partial exemption
• Tolley's VAT Planning provides workable solutions to real-life VAT problems that arise on a client-by-client basis
• Expert opinion pieces and worked examples offer guidance through a complex set of legislation, regulation and schemes
• Tolley’s VAT Planning recommends action plans to help businesses and clients get the most out of VAT dealings and, in turn, minimise their tax bills