Sector summary ― legal sector

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

Introduction to the sector

The legal sector encompasses solicitors and barristers that work to provide legal advice across all industries. Firms in this sector can range from sole traders through to multinational LLPs. This guidance note acts as a useful starting point for advisers preparing for a meeting with a legal sector client, as well as in-house VAT teams.

Solicitors can deal with many types of legal matters including:

•
litigation
•
conveyancing
•
trusts and other execution services
•
general legal and tax advice

If the legal services are provided by UK-based solicitors to UK resident customers, the services will be liable to VAT at the standard rate, where they do not relate to land that is located overseas. However, the legal sector can have a number of complexities, the key areas are set out below.

Key considerations

Topic	Overview	Common issues	Links to further guidance
Identifying the place of supply ― supplies to consumers outside the UK	Following Brexit, the place of supply of legal services to individuals

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL

Popular Articles

Corporation Tax

Temporary differences

Temporary differencesCalculation of temporary differencesThe temporary difference arising in respect of an asset or liability is calculated by comparing the carrying value of that asset or liability with its tax base.IAS 12 uses the concept of taxable or deductible temporary differences. Whether a

14 Jul 2020 13:49 | Produced by Tolley in association with Malcolm Greenbaum Read more

Exemption ― insurance ― overview

Exemption ― insurance ― overviewThis guidance note provides an overview of the VAT treatment of insurance products and should be read in conjunction with the Insurance ― specific transactions and Exemption ― insurance ― brokers and agents guidance notes.Is insurance exempt from VAT?Supplies of

Value Added Tax

Holding companies ― VAT status of activities

Holding companies ― VAT status of activitiesThis guidance note examines how to determine the VAT status of a holding company’s activities. In particular, it looks at:•when a holding company is or is not in business•if a holding company is in business, whether its activities are exempt or taxableThe

14 Jul 2020 17:13 | Produced by Tolley Read more

��Ӱ��