Supply and consideration ― deemed and self-supplies

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note looks at the concepts of deemed and self-supplies for VAT purposes.

For an overview of supply and consideration generally, see the Supply and consideration ― overview guidance note.

For detailed commentary on the legislation and case law in relation to deemed supplies, see De Voil Indirect Tax Service V3.201. For self-supplies, see De Voil Indirect Tax Service V3.241.

Deemed supplies

VAT rules dictate that certain transactions which would not otherwise be treated as supplies of goods or services can be ‘deemed’ to be such.

Broadly, a deemed supply may place a requirement on a taxpayer to account for VAT even though there is no supply for consideration (see the Supply and consideration ― is the supply for consideration? guidance note). Deemed supplies can also refer to supplies where the person who has to account

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL

Popular Articles

Owner-Managed Businesses

Wholly and exclusively

Wholly and exclusivelyFor both income tax and corporation tax purposes, one of the fundamental conditions that must be satisfied for an item of expenditure to be deductible, is that it must incurred ‘wholly and exclusively’ for the purposes of the trade, profession or vocation. References to CTA

14 Jul 2020 14:00 | Produced by Tolley Read more

Employment Tax

Classes of NIC and who pays them

Classes of NIC and who pays themClass 1 NICClass 1 NIC is payable on earnings paid to an employed worker which derive from, or are treated as deriving from, an employed earner’s employment in the UK. There are two kinds of Class 1 NIC, primary contributions for which the employee is liable and

14 Jul 2020 11:13 | Produced by Tolley in association with Jim Yuill at The Yuill Consultancy Read more

Brexit

Corporation Tax

Withholding tax

Withholding taxIntroductionUK tax must be withheld on UK payments including:•interest•royalties•rental incomeUK withholding tax may be reduced under the provisions of a double tax treaty (DTT). Prior to 1 June 2021, payments of interest and royalties made to EU resident associated companies were

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

��˾��ҹ��