The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
This guidance note provides more detailed information on how TOMS operates. It should be read in conjunction with the Overview of the Tour Operators Margin Scheme (TOMS), TOMS and in-house supplies and TOMS calculations guidance notes.
If a business is providing designated travel services and needs to determine whether it needs to VAT register, the following will be treated as taxable turnover:
For more information on registering for VAT, see the Overview – registering for VAT and VAT registration procedure guidance notes.
Businesses that are members of a UK VAT group can make margin scheme supplies. However a business making margin scheme supplies cannot belong to a UK VAT group if any of the other group members:
A business is entitled to reclaim input
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