Sector summary ― solicitors

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note provides a summary of key VAT issues of relevance to solicitors.

Areas covered include:

•
an introduction to the sector and core services of solicitors
•
disbursements
•
commission
•
other kinds of income
•
place of supply of a solicitor’s services
•
identifying the recipient of a supply of legal services
•
time of supply and invoicing
•
key case law for solicitors

Introduction to the sector

Solicitors can deal with many types of legal matters including:

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

Most legal services supplied by solicitors in the UK are taxable at the standard rate.

Despite this apparent simplicity there can be various areas of difficulty for solicitors which include:

•
the VAT implications of disbursements
•
commissions and other income streams attracting non-standard VAT liability
•
identifying the place of supply of services
•
identifying the recipient of a supply of services

Disbursements

Overview

Solicitors often recharge costs to their clients or make what

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

Employment Tax

Non-business expenses

Non-business expensesIntroductionIn order for an expense to be tax deductible it must be incurred because of an employee’s employment. Any non-business related expense is, therefore, not relievable except in some very particular circumstances.This guidance note deals with three separate issues. The

14 Jul 2020 12:16 | Produced by Tolley Read more

Corporation Tax

Indexation allowance and rebasing

Indexation allowance and rebasingThis guidance note explains the general rules surrounding the availability of indexation allowance (which was frozen at December 2017) on the disposal of company assets and provides information on the rebasing rules for assets held on 31 March 1982. For an overview

14 Jul 2020 11:59 | Produced by Tolley in association with Jackie Barker of Wells Associates Read more

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��