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VAT review ― sales


Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance

VAT review ― sales


Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance
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This guidance note is intended to provide an overview of the areas that should be considered as part of a VAT review analysing the VAT accounting obligations arising in relation to sales. This document should be used in conjunction with the VAT review checklist Checklist ― VAT review when undertaking a review to seek to ensure all the relevant items have been covered.

Whilst this guidance and associated checklist have been prepared to seek to cover the common issues and risks which might arise, care should be taken to ensure that any specific business or sector issues are considered as part of a comprehensive review.

Liability

The default rate of VAT for supplies of goods and services in the UK is the standard rate (which is currently 20%). However, certain goods and services are not subject to the default rate of VAT and instead the supply may be exempt, zero-rated, reduced-rated or outside the scope of VAT. The VAT review process should seek to confirm that the correct rate of VAT has been applied to

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  • 14 Nov 2023 11:11

Home/ Tolley Tax Guidance/ Value Added Tax / Ensuring compliance

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