Commentary

V7.486 Businesses that buy in and resell travel services to travellers

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.486 Businesses that buy in and resell travel services to travellers

Part V7 Tax planning | Commentary

V7.486 Businesses that buy in and resell travel services to travellers

TOMS applies when a business acts in its own name, buying in and reselling travel services to travellers. Paragraphs V7.453–V7.461 deal with the general rules regarding supplies involving agents, including distinguishing between a principal and an agent and the difference between an undisclosed and a disclosed agent. In the context of the travel sector, a disclosed agent does not buy in and resell travel services, a disclosed agent simply sells travel services on behalf of third parties. As a result, a business that only acts as a disclosed agent

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial