HMRC Business Brief: TOMS B2B VAT Accounting for Tour Operators – Technical Change Update

• HMRC issued a BB 5(2024) on Tour Operators’ Margin Scheme (TOMS) for B2B wholesale supplies
• The document explains VAT accounting for TOMS B2B wholesale supplies
• Businesses can choose whether to apply TOMS to B2B wholesale supplies
• There is a technical change to the treatment of B2B wholesale supplies in relation to TOMS
• The policy allowing businesses to choose whether to apply TOMS to B2B wholesale supplies remains unchanged.

Source: marcusward.co

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.

---

---