VAT increase on paid holiday?

They can if it's right.

But whether it is right will depend upon the date of supply/invoice/payment and you haven't told us what the first two are.

tim

In article , tim.... writes

Time of payment is time of supply so they are at it:

As payment has been made it seems that these cover it (with or w/o vat invoice):

"For transactions where a VAT invoice is issued and payment is received in advance, the time of supply is the date the payment is received or the date the invoice is issued - whichever is the earlier."

"If the supplier receives full payment before the date when the supply takes place and no VAT invoice has yet been issued, the time of supply is the date the payment is received."

Oops.

For some reason I thought that he was referring to a holiday that he had already taken and the VAT increase that he was referring to was the "rise" from 15 to 17.5%.

Of course, you don't pay for holidays like that :-(

Silly me!

tim

In article , tim.... writes

Nice to return the favour once in a while, it's usually you keeping me right on employment law and contributions ;-)

Just for info - VAT on holidays is covered by the Tour Operators Margin Scheme. See section 4.14 (time-of-supply) here:

Except that it won't apply in this case because the "accommodation" is not being "re-sold", it is being directly sold by the company that "owns" it.

tim

I see it offers 2 methods of deciding the tax point, number one of which is completely overridden by Section 4.15 which states without qualification that the date of large (or complete) payments define the tax point(s).