Tour Operators Margin Scheme (TOMS) ― operating the scheme

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note provides information about the operation of the Tour Operators Margin Scheme (TOMS).

For an overview of the TOMS, see the Tour Operators Margin Scheme (TOMS) ― overview guidance note.

For commentary on methods of calculation of VAT under the TOMS, see De Voil Indirect Tax Service V3.593.

The TOMS and the place of supply rules

Information about the place of supply of designated travel services and in-house supplies made by tour operators is provided under separate headings below.

The place of supply of designated travel services

For information about the concept of designated travel services, see the Tour Operators Margin Scheme (TOMS) ― supplies covered by the scheme guidance note. Regardless of where in the world designated travel services are enjoyed, the place of supply of designated travel services by tour operators is:

•
the UK if the designated travel services are supplied by a tour operator from an establishment in the UK
•
outside the UK if the designated travel services are supplied by a tour operator

Continue reading the full document

To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+™

TAKE A FREE TRIAL NOW

Popular Articles

Owner-Managed Businesses

Allowable expenses for property businesses

Allowable expenses for property businessesGeneral itemsMany of the principles applying to allowable expenses for property businesses are similar to those that apply for trading and the rules for individuals in a property business are generally the same as for companies with some exceptions which are

14 Jul 2020 13:26 | Produced by Tolley in association with Rob Durrant-Walker of Crane Dale Tax, part of AMS Group Read more

Tax Returns

Owner-Managed Businesses

Relief for employee share schemes

Relief for employee share schemesRemuneration expenses are generally deductible for corporation tax purposes as they are considered to be incurred wholly and exclusively for the purposes of the trade. However, expenses relating to shares are usually classed as capital and are therefore not

14 Jul 2020 13:21 | Produced by Tolley Read more

Trusts and Inheritance Tax

Winding up a trust ― legal, administrative and compliance issues

Winding up a trust ― legal, administrative and compliance issuesOverviewWhen winding up a trust, there are legal formalities and compliance issues that need to be dealt with, as well as IHT and CGT consequences that flow from the termination. This guidance note considers when and how a trust comes

14 Jul 2020 14:01 | Produced by Tolley Read more

Autumn Budget 2024

��˾��ҹ��