UK VAT splitting update
- Jul 6, 2017 | Richard Asquith
The UK’s HMRC has added a new tax avoidance arrangement to its list of prohibited schemes. Labelled number 38 in HMRC’s list, this concerns attempt to avoid VAT registration and properly charge UK VAT at 20%.
HMRC is targeting splitting of invoices for single transactions. This includes where multiple suppliers are used for a single supply. HMRC has indicated that it will review such scenarios to detect if some/all the suppliers are creating the structure to keep their turnover.
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