- Ride-hailing services may need to review their business models due to a UK VAT ruling.
- Bolt Services UK Ltd. successfully defended its VAT liability in a landmark decision.
- The ruling could influence tax treatment across the ride-hailing industry.
- Bolt acts as the principal in re-supplying passenger transport services.
- Bolt uses the Tour Operators Margin Scheme for VAT accounting.
- TOMS is a special VAT system for businesses reselling travel services.
- The UK tax authority challenged Bolt’s VAT arrangement but lost the appeal.
- The decision clarifies VAT obligations for private hire operators in the UK.
Source: news.bloombergtax.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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