Is "Salvage" VATable? | AccountingWEB

Is "Salvage" VATable?

My client, a marine construction firm, "salvaged" a number of boats following the recent storms. They have standard-rated their invoices, but the insurers are refusing to pay the VAT claiming that salvage isn't VATable.

I've searched the HMCE website and my VAT reference books, but "salvage" does not seem to appear in the zero or exempt supplies listings.

Would anyone know the correct VAT rate, and maybe give me a link to the underlying legislation/VAT publication.
Ken Howard

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Thank you

Ken Howard |