Hi all, Happy New Year 2012...We have a client which operates purely as a payroll company. Every month it recharges the wages and Er NICs to its sister companies with a margin or 2%. Is the whole recharge vatable or does VAT only apply to the margin? Thank you, Aaron
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VAT: Cost Sharing Exemption
http://www.hmrc.gov.uk/tiin/tiin762.pdf
http://www.hmrc.gov.uk/tiin/tiin762.htm
The above may be relevant to the question.