Commentary

V7.485 Tour Operators' Margin Scheme—introduction

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.485 Tour Operators' Margin Scheme—introduction

Part V7 Tax planning | Commentary

Tour Operators' Margin Scheme

V7.485 Tour Operators' Margin Scheme—introduction

The Tour Operators' Margin Scheme (TOMS) has applied in the UK since 1 April 1988. The European legislative background is now at Directive 2006/112/EC, arts 306–310. The UK legislation is at VATA 1994, s 53 and the Value Added Tax (Tour Operators) Order 1987.

The main HMRC guidance regarding the scheme is in Notice 709/5/19 (Tour Operators Margin Scheme), some of which has the force of law. The TOMS is a mandatory scheme and applies to businesses that act in their own name, either as a principal or

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