- HMRC has published Revenue and Customs Brief 4 (2024) on the interpretation of VAT and excise law from 1 January 2024
- UK VAT and excise legislation remains the same as it did on 31 December 2023
- HMRC has also published Revenue and Customs Brief 5 (2024) on the application of the VAT Tour Operators’ Margin Scheme (TOMS) for B2B wholesale supplies of certain travel services
- B2B wholesale supplies are now within the scope of TOMS, but tour operators can opt out if they wish
- The change is to apply with immediate effect
Source: taxscape.deloitte.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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