VAT reviews ― international transactions

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note is intended to provide an overview of the areas that should be considered as part of a VAT review when a business operates internationally. 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.

International transactions ― overview

For a business that deals in international transactions, there are a number of additional rules and requirements which must be adhered to when compared to a business that only operates in the UK. Therefore, a VAT review for a business that operates internationally will need to ensure that these additional requirements have been properly considered.

International transactions ― purchases of goods

When a business purchases goods from outside the

Continue reading the full document

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

TAKE A FREE TRIAL NOW

Popular Articles

Employment Tax

Loans provided to employees

Loans provided to employeesEmployers sometimes provide their employees with loans, sometimes charging interest and often not, either as part of the reward package or to help the individual meet significant expenditure. For example, it is common to provide loans for the purchase of annual travel

14 Jul 2020 12:11 | Produced by Tolley Read more

Personal Tax

Timing of disposal for capital gains tax

Timing of disposal for capital gains taxDate of disposalThe date of the disposal determines the period in which the gain is subject to capital gains tax (CGT). When the rates of CGT change, the determination of the date of disposal can also affect the rate of CGT that applies to the gain.See the

14 Jul 2020 13:50 | Produced by Tolley Read more

Year-end tax planning

Owner-Managed Businesses

Repairs and renewals

Repairs and renewalsThe key consideration in determining whether expenditure on repairs and renewals is allowable as a deduction for tax purposes is whether it is capital or revenue in nature. In some cases, it can be relatively straightforward to identify revenue repairs. HMRC provides the

14 Jul 2020 13:23 | Produced by Tolley Read more

��˾��ҹ��