FSA Appointed representative and VAT
There are 2 separate companies for financial services. 1 being principal and the other an appointed representative.
Can anyone clarify how the VAT would work in the following scenarios.
The income is vat exempt.
1. Client belongs to AR. Agreed split 50/50. Income received by Principal. AR then charges Principal for their 50% cut. I presume this charge is VAT exempt.
2. Same scenario as 1 but income received by AR. Principal then charges AR for their 50% (the work has been undertaken by principals advisor). Is this charge still VAT exempt or is their VAT chargeable because of services provided to AR by principal?
- Dividend dates 539 10
- simple one...capitalisation of legal fees on purchase of business 95 3
- Sole properietor 133 4
- transitioning payroll 213 8
- dividend proposals 67 2
- How to reclaim VAT that was missed off previous invoices? 211 2
- Deduction from Salary 275 8
- PPR exemption - can it be due on a bigger area than 0.5 hectares? 170 2
- Can I take action against my accountant for incompetence? 2,695 60
- Child Tax Credits - date of cessation of qualifying young person 73 2
- VAT on sales net of CIS suffered 426 10
- ACCA Cert/Dip in IFRS 153 2
- 12 Pay Problems 243 3
- VAT online filing exemptions 237 3
- Mutual trading organisation has chargeable gain 86 1
- Redudancy 83 1
- Redundancy pay for directors? 476 13
- VAT - Recharge 92 2
- Should Spanish VAT apply ? 352 4
- Legal title not in the company name 233 9
- Property exchange - 8-year legal delay following fall-out 621
- Cancelled 362
- SAGE Payroll Data for Import to MS Dynamics AX 342
- Cancelled 309
- Have you staged yet for auto enrolment? 282
- Probiz 270
- Free-standing washing machine - unfurnished lettings 227
- VAT on non-profit making clubs (ECJ VS West Dorset Golf Club) 226
- Phishing emails purporting to be from CIPFA? 202
- Is this UK incapacity benefit taxable in UK or Jersey? 174