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TOMS Applied to Serviced Accommodation

The Tour Operators Margin Scheme (‘TOMS’) applies to businesses that buy in and re-sell travel services, including but not limited to accommodation and passenger transport). This compulsory scheme was introduced as a means to simplify VAT accounting with respect to the onward supply of qualifying travel services by allowing the tour operator to account for VAT on the profit margin of the onward supply in their place of establishment, as opposed to registering for VAT in each EU country where the services and goods are enjoyed.

VAT and Property developers

We are continuing to receive a number of calls on our helpline from property developers and their advisors seeking clarification of the VAT liability of construction or conversion costs, and requesting advice in relation to the recovery of VAT on costs relating to property development schemes

Time to Pay Arrangements

Starting 3rd August 2015, any taxpayer that has agreed payment of a debt to HMRC in monthly instalments will be required to make these payments by Direct Debit. HMRC only permit the payment of debts of this nature to be .....

VAT liability of E-Publications

During the most recent Budget, it was announced that VAT applied to certain e-publications was to be scrapped, with supplies of qualifying items to be liable to the zero rate of VAT from 1st December 2020 to reflect the VAT treatment of their physical counterparts. HMRC have announced that this change has been brought forward and is now effective from 1st May 2020. Up to this date, supplies of e-publications are liable to the standard rate of VAT.