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VAT ON SPECIAL TRADES

VAT ON TOUR OPERATORS

Businesses that buy goods or services and sell them forwards in the form of accommodation, travel, or similar sectors, fall under tour operations. Some areas of the VAT on tour operations are eligible for special trades VAT rates, which means that there are potential VAT costs that can be reduced. Schemes are in place to help business owners in the tour operations sector manage their VAT payments differently. The tour operations margin scheme allows business to alter their VAT rates by paying only the difference between the purchase cost of a good or service and the resale cost. This covers multiple different types of associated goods and services within the sector, but also involves additional conditions.

ACCOUNTANCY SUPPORT FOR VAT ON TOUR OPERATORS

Choosing to register for the tour operations margin scheme for VAT, is an important decision for eligible business owners in the UK. The eligibility does not stretch to every service or goods supplied. Careful consideration is required to assess whether the particular services that your business offers falls under the different areas of the tour operations margin scheme, or if you’ll have to pay standard VAT. At The Accountancy Solutions, we can help your business in all areas of tour operations VAT and the applicable margin scheme. Our services include, but are not limited to:

  • Compliance checks and investigations
  • Margin calculations
  • VAT records
  • VAT returns
  • Input and Output calculations
  • Registration and deregistration
  • Eligibility for the scheme

Advice for VAT on Tour Operators

It can be incredibly beneficial to a business to receive alternative VAT rates through the margin scheme. However, at The Accountancy Solutions, we understand that the process isn’t always straight forward, and discerning which services are eligible can be very difficult.

If you need assistance with your tour operations VAT requirements or are looking to register for the VAT margin scheme, our highly experienced team are on hand to provide all the support and advice you need.

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