Supply and consideration ― deemed and self-supplies

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note looks at the concepts of deemed and self-supplies for VAT purposes.

For an overview of supply and consideration generally, see the Supply and consideration ― overview guidance note.

For detailed commentary on the legislation and case law in relation to deemed supplies, see De Voil Indirect Tax Service V3.201. For self-supplies, see De Voil Indirect Tax Service V3.241.

Deemed supplies

VAT rules dictate that certain transactions which would not otherwise be treated as supplies of goods or services can be ‘deemed’ to be such.

Broadly, a deemed supply may place a requirement on a taxpayer to account for VAT even though there is no supply for consideration (see the Supply and consideration ― is the supply for consideration? guidance note). Deemed supplies can also refer to supplies where the person who has to account

Continue reading

To read the full Guidance note, register for a free trial of Tolley+™

TAKE A FREE TRIAL

Popular Articles

Personal Tax

Self assessment ― amendments and corrections

Self assessment ― amendments and correctionsOnce a self assessment tax return has been filed, both HMRC and the taxpayer (or the agent) has the right to make changes to the return. There are different time limits depending on whether it is a correction by HMRC or an amendment made by the

14 Jul 2020 13:37 | Produced by Tolley Read more

Corporation Tax

Qualifying charitable donations

Qualifying charitable donationsCompanies can obtain corporation tax relief for qualifying payments or certain transfers of assets to charity under the qualifying charitable donations regime. Definition of qualifying charitable donationThe definition of ‘qualifying charitable donations’

14 Jul 2020 13:03 | Produced by Tolley 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

��Ӱ��