Valuation ― overview

Produced by Tolley

The following Value Added Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:

  • Valuation ― overview
  • Key issues
  • Related reading

Valuation ― overview

This guidance note provides an overview of valuation for VAT purposes.

In-depth commentary on the legislation and case law in connection with valuation is provided in De Voil Indirect Tax Service V3.151.

Key issues

The importance of valuation for VAT purposes is largely self-evident; if VAT is to be accounted for on a supply of goods or services at a particular rate then a valuation of that supply is necessary in order to have something to which the rate can be applied. In other words, we might ask the question: ‘20% of what?’ Whilst this may seem at first glance to be a relatively straightforward question, it will not always be easy to work out in the real world. The table below sets out a number of the key issues associated with VAT and valuation, and links to mor

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