Commentary

V7.453 Agents—introduction

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.453 Agents—introduction

Part V7 Tax planning | Commentary

Supplies involving agents

V7.453 Agents—introduction

In many business transactions, there are three key people involved:

  1.  

    •     the customer – the beneficiary of goods or services being provided

  2.  

    •     the principal – the owner of goods or provider of services

  3.  

    •     the agent – a third party who acts for either of the two parties above in arranging supplies of goods or services. (Normally, an agent will only act for one principal. However, as demonstrated in Birmingham City Football Club ([2012] UKFTT 474 (TC)), the First-tier Tribunal found that an agent acted for both the player and the club.)

The key

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