Supply and consideration ― overview

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance provides an overview of the topic of supply and consideration.

For detailed commentary on the legislation and case law on supply and consideration, see De Voil Indirect Tax Service V3.1.

Key issues

A number of key issues arise in relation to supply and consideration from a VAT perspective. The table below sets out a number of the most important areas to consider, along with links to more detailed guidance:

Area	Description	Guidance note
Supplies of goods or services	It is often important to determine whether a supply is one of goods or services for VAT purposes (for example, this can influence both the time and place of supply of a transaction). Rules therefore exist for determining what is a supply of goods and what is a supply of services	Supply and consideration ― goods or services?
Supplies made for consideration	At a very high level, only supplies that are made ‘for consideration’ come within the scope of VAT. It is therefore important to determine whether there is a direct link

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

Special rate pool and long life assets

Special rate pool and long life assetsSpecial rate poolExpenditure on some types of plant or machinery must, if neither annual investment allowance (AIA) nor first year allowances (FYAs) are available, be allocated to a ‘special rate pool’. Expenditure to be allocated to the special rate pool

14 Jul 2020 13:41 | Produced by Tolley Read more

Corporation Tax

What are connected companies for loan relationship purposes ― practical approach

What are connected companies for loan relationship purposes ― practical approachBrief overview of the rulesThe loan relationships legislation applies to any ‘money debt’ arising from the lending of money entered into by a company, either as a lender or borrower. The rules are contained in CTA 2009,

20 Apr 2021 16:00 | Produced by Tolley Read more

Corporation Tax

Premiums on the grant or surrender of a lease

Premiums on the grant or surrender of a leasePremiums on the grant of a lease ― outlineWhen a property investor grants a lease, potentially this could be done on the basis that the tenant pays a premium for the initial grant of the lease, in addition to also paying rent over the term of the lease.

14 Jul 2020 12:58 | Produced by Tolley in association with Rob Durrant-Walker of Crane Dale Tax Read more

��˾��ҹ��