The following Value Added Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
This note provides an overview of the VAT treatment of supplies and processes that are undertaken in a tax warehouse storing goods that are liable to excise duty. Please note that this guidance note only deals with the UK aspects. If goods are being moved in or out of a tax warehouse in another EU country it will be necessary to check local requirements.
Please note that all references to EU countries below relate to VAT territories within the EU (not the same as customs territories) and more information can be found in the EU countries ― VAT compliance information guidance note.
Tax warehouses are premises that have been authorised by HMRC where goods that are subject to excise duty can be produced, processed, held, received or dispatched under duty suspension regimes by an authorised warehouse-keeper. They include the following premises:
registered premises / stores
Please see HMRC Excise Notice 197 for more information on the requirements imposed upon an excise warehouse-keeper.
If a business’ only activities in the UK are trading goods located in a tax warehouse then there will be no requirement to register for UK VAT, as the activities undertaken in the warehouse are not taken into consideration when determining whether the UK VAT registration threshold has been exceeded. However the business can elect to register voluntarily in the UK if this is desirable in order to recover input tax incurred under VATA 1994, Sch 1(10). If the business undertakes activities in the UK outside of the warehouse then it may need to register for VAT in respect of those activities if they exceed the VAT registration threshold. Please see the Overview ― registering for VAT guidance note for more information on registering for VAT in the UK.
No VAT is due when goods liable to excise duty are placed in a tax warehouse that has been approved for those goods. VAT may become
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.
Access this article and thousands of others like it free for 7 days with a trial of TolleyGuidance.
Read full article
Already a subscriber? Login
IntroductionUK tax must be withheld on UK payments including:•interest•royalties•rental incomeWithholding tax may be reduced under double tax treaties (DTT) or European directives, both of which may be subject to making a formal claim.This guidance note outlines the rules for UK withholding tax, and
Income and gains may be taxable in more than one country. The UK has three ways of ensuring that the individual does not bear a double burden:1)treaty tax relief may reduce or eliminate the double tax 2)if there is no treaty, the individual can claim ‘unilateral’ relief by deducting the foreign tax
Duty to prepare trust accountsUnder the laws of England and Wales, trustees have a duty to account to the beneficiaries for their financial administration of the trust fund. This duty is established by a substantial body of case law. In the case of Armitage v Nurse, Millett LJ stated:“Every
This guidance note provides an overview of what conditions need to be met before a business is entitled to treat VAT incurred as input tax. This note should be read in conjunction with the other notes in the ‘Claiming input tax’ subtopic. For a flowchart outlining the procedure for claiming input
To view our latest tax guidance content, sign in to Tolley Guidance or register for a free trial.