Time of supply ― continuous supplies of services

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

$imgtext$

This guidance note provides information regarding the tax point rules for continuous supplies of services and how to identify a continuous supply of services. For an overview of the time of supply rules generally, see the Time of supply ― overview guidance note.

The tax point rules for continuous supplies of services

A continuous supply of services may be made on terms where the consideration is determined either:

•
from time to time
•
at the beginning of a period of up to a year with a VAT invoice issued at the beginning of the period

The tax point rules that apply in each of the above circumstances are set out below.

Where the consideration for continuous supplies of services is determined from time to time

Where a continuous supply of services is made on terms where the consideration is determined from time to time, the services should be treated as separately and successively supplied on the earlier of each date that the supplier:

•
receives a payment relating to the supplies

Continue reading

To read the full Guidance note, register for a free trial of Tolley+™

TAKE A FREE TRIAL

Popular Articles

Corporation Tax

Group relief for carried-forward losses

Group relief for carried-forward lossesThis guidance note examines in detail the relief available to groups for carried-forward losses. The scope excludes the treatment of specialist businesses such as banks, insurance companies and oil and gas companies.From 1 April 2017, companies can surrender

14 Jul 2020 11:50 | Produced by Tolley Read more

Corporation Tax

Real estate investment trusts (REITs)

Real estate investment trusts (REITs)Introduction to REITsA real estate investment trust (REIT) is in fact not a trust at all, it is a company which qualifies for special tax treatment under CTA 2010, Part 12. REITs are similar in many ways to collective fund vehicles (such as unit trusts) in that

14 Jul 2020 13:04 | Produced by Tolley in association with Rob Durrant-Walker of Crane Dale Tax Read more

Trusts and Inheritance Tax

Bare trusts ― income tax and CGT

Bare trusts ― income tax and CGTThis guidance note explains how trustees of bare trusts are treated for income tax and capital gains purposes. Although a bare trust is, in equity, a type of trust, for both income tax and capital gains tax purposes its existence is transparent. This means that no tax

14 Jul 2020 15:34 | Produced by Tolley Read more

��˾��ҹ��