- Bolt Services UK Limited falls within the Tour Operators Margin Scheme (TOMS) for mobile ride hailing services
- VAT is chargeable at the standard rate (20%) on Bolt’s supplies of ride-hailing services
- First-tier Tribunal (FTT) determined that Bolt should only account for VAT on its margin under TOMS
- Traditional taxi and private hire industry business model came under scrutiny with the rise of Uber in the UK
- Uber only accounted for VAT on the supplies of services it made to drivers, leading to public attention
- Employment case in 2016 started the shift in the VAT treatment of Uber’s services.
Source: icaew.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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