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Home / De-Voil /Part V1 General principles and rates of tax /Division V1.1 General principles and rates of tax /General principles of VAT / V1.101 VAT—overview

V1.101 VAT—overview

Part V1 General principles and rates of tax

V1.101 VAT—overview

Value added tax is a tax on the value which traders add to their purchases of raw materials, goods and services prior to resale. The theory of value added can be illustrated by reference to a simplified profit and loss account showing the four basic elements used in its calculation, namely:

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V3.140A Tax point—land

V16.823 Tour operators' margin scheme—practical implementation of the airline charter option following the changes which came into effect on 1 January 1996

V18.134 Registration of Lloyd's syndicates

V3.133 Tax point—receipt of a payment

V4.156 Exemption—trade union, professional and public interest bodies

V4.136C Exemption for finance—instalment credit finance, administrative arrangements and related intermediary services

V16.944 Withdrawal of the VAT Staff Hire Concession on 1 April 2009—normal VAT principles must be applied from that date

V16.885 New time of supply rules for on-going supplies

V3.153 Value—subsidies

V21.128 Combined heat and power schemes

V3.156 Value—apportionment of consideration

V3.193B Place of supply of services—special rule—broadcasting, telecommunications and electronically supplied services ('BTE services') supplied to non-taxable persons

VAT 1614G Certificate to disapply the option to tax: land sold to Housing Associations

V3.524 Construction industry authenticated receipt

V3.125 Supplies made in the course or furtherance of business

VAT 769 Notification of Insolvency

V2.189Y Group VAT registration—conditions

V3.142A Anti-forestalling—increase in VAT rate to 17.5% (from 1 January 2010)

Excise Notice CCL1/3 Climate Change Levy – reliefs and special treatments for taxable commodities

V17.136 Inward processing