HMRC has added Spotlight 38 to its targeted list of tax avoidance schemes. This concerns VAT supply splitting, where HMRC takes the view that a single supply of goods or services has been split artificially into separate supplies, giving a lower rate of VAT overall.
HMRC has added Spotlight 38 to its targeted list of tax avoidance schemes. This concerns VAT supply splitting, where HMRC takes the view that a single supply of goods or services has been split artificially into separate supplies, giving a lower rate of VAT overall. It gives an example of such an arrangement where:
HMRC states that it won’t offer advice regarding VAT supply splitting, but will expect taxpayers to make their judgement based on published guidance (see http://bit.ly/2tiEnSE).
HMRC has added Spotlight 38 to its targeted list of tax avoidance schemes. This concerns VAT supply splitting, where HMRC takes the view that a single supply of goods or services has been split artificially into separate supplies, giving a lower rate of VAT overall.
HMRC has added Spotlight 38 to its targeted list of tax avoidance schemes. This concerns VAT supply splitting, where HMRC takes the view that a single supply of goods or services has been split artificially into separate supplies, giving a lower rate of VAT overall. It gives an example of such an arrangement where:
HMRC states that it won’t offer advice regarding VAT supply splitting, but will expect taxpayers to make their judgement based on published guidance (see http://bit.ly/2tiEnSE).