Forum Categories › GENERAL VAT DISCUSSIONS › How to calculate VAT if there is no price › Reply To: How to calculate VAT if there is no price
9 November 2018 at 16:54
#55926
vatconsultant
Member
VAT is charged on either monetary or non-monetary consideration. IF:
• Barter trade cases
-subjective but what seller would have paid if monetary; not possible to defer VAT if goods are supplied,
-tax point delivery or <14 days’ invoice.( see Naturally Yours Cosmetics case)
• No consideration
-check deemed consideration eg gifts to staff or own use; money’s worth