vat on compensation | AccountingWEB

vat on compensation

i have a client who has received a compensation payment from the water board for loss of takings

i am not clear whether this receipt should be subject to vat or whether it is outside the scope

any help or advice would be useful


Martyn Scott Thacker

There are 5 comments. Login or register to view them.

I may very well be wrong

Anonymous |

No supply = no output VAT

Anonymous |


Anonymous |

Not yet seen any VAT on compensation

Anonymous |

Loss of trade compensation = not a supply

Anonymous |