Following a campaign by the Charity Tax Group, HMRC have agreed to change their policy on VAT rates applicable to digital advertising.
Residential lets are usually exempt from VAT but if you supply accommodation in a hotel or similar establishment then your supply is standard rated.
What will be the 2020 outlook for VAT in the travel sector?
Hard Brexit – how will tour operators be affected?
What we didn’t know until now, was how tour operators were expected to handle a hard Brexit.
The government’s first batch of advice for UK businesses in the event of a no deal Brexit includes help with both VAT and customs duty.
Following today’s government response to the Home Affairs Committee report on customs operations post Brexit, Sue Rathmell, VAT Director at MHA MacIntyre Hudson, comments on the need for concrete government action to allow businesses to get cracking and prepare for any changes
our operators use an EU wide scheme known as the Tour Operators’ Margin Scheme or TOMS for short, in order to calculate how much VAT is payable on the holidays they sell. They have to calculate the margin, i.e. the difference between the selling price and the total of all the VAT inclusive costs of the holiday.
In the last few weeks I have seen two businesses that have been using the VAT flat rate scheme that would be far better off outside the scheme. Why is this? The flat rate scheme is a simplification introduced by HMRC to help small businesses account for VAT more simply. However as a simplification, it is not the best route for every business.
71 New Dover Road
T: 03330 100 220
17-21 Ashford Road
T: 03330 100 221
The teamwork and support from the MHA team really made the difference to a complex deal. Anthony Pile - Blue Skies
Private Equity Investment
The whole team are exceedingly knowledgeable and the main benefit of working with MHA MacIntyre Hudson is the reassurance I feel that our business is in safe hands. Hayley Wilson - Fenmarc