Hi, we are running some one-off markets, with various stalls, and maybe some live music being played. Should we be charging the hospitality rate of VAT, 5% (12.5% from 1st October), or standard rated VAT (20%)?
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VAT on market ticketed entry
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Originally posted by interestedparty View PostHi, we are running some one-off markets, with various stalls, and maybe some live music being played. Should we be charging the hospitality rate of VAT, 5% (12.5% from 1st October), or standard rated VAT (20%)?merely at clientco for the entertainment -
The guidance is here but, yes, ask your accountant
https://www.gov.uk/guidance/vat-redu...nd-attractionsComment
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Talk to your accountant BUT from what you seem to be saying the VAT rates will probably differ per item being invoiced. It will probably make invoice creation a ball ache.Former IPSE member
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Originally posted by courtg9000 View PostTalk to your accountant BUT from what you seem to be saying the VAT rates will probably differ per item being invoiced. It will probably make invoice creation a ball ache.
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Originally posted by interestedparty View Post
We are only providing the location for the market, so the individual stall-holders pay us, which I believe is exempt as far as VAT is concerned - so it's not complicated or a per item situation in that sense. We usually don't sell tickets for these markets, but a few times a year we tie them in with cultural performances from local musicians, dancers, etc - and these are the ones we sell tickets for.
Pitch fees are exempt from VAT
Need to check out the VAT Partial Exemption Rules to see if they apply - if they do then your vat input tax claims are going to be restricted.
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Originally posted by john@UKCA View PostThe ticketed entry (normally standard rated for vat) will qualify for the reduced hospitality rate 12.5% from 1st October.
Pitch fees are exempt from VAT
Need to check out the VAT Partial Exemption Rules to see if they apply - if they do then your vat input tax claims are going to be restricted.Comment
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