Reply To: How to calculate VAT if there is no price

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

#55926

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