Tom's, is it applicable for my company?

Event company which will provide a package which includes accomodation

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My event company which is VAT registered is providing an event package which includes accommodation. 

I am not a tour operation, therefore Im unsure if i need to apply to Tom's rules. 

To simplify, here is the example:

Package worth:

Customer pay £10,000 + 20% Vat

Breakdown: £8,000 our services being provided + £2,000 on accomodation (which I will purchase with the X hotel).

Do I need to apply Tom's or because I am note a tour operation, i dont need to do anything? And if i do, what would be the tax calculation? Thanks.

 

Replies (3)

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VAT
By Jason Croke
23rd May 2024 16:41

You do not have to be a "tour operator" to fall under the scheme.

There are quite a lot of different rules such as who you are selling to, whether there are any in-house supplies, etc and the calculations can be complex, so you will need to speak with your Accountant or a specialist such as https://www.vatnav.com/services/toms (who are excellent) or if you want to DIY, then a good starting point is a useful flowchart here, albeit quite simplified and worth exploring that website further https://www.pooley.co.uk/TOMS_flowchart.pdf

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RLI
By lionofludesch
24th May 2024 07:34

Love the apostrophe.

It's made my day.

Thanks (3)
Replying to lionofludesch:
avatar
By FactChecker
24th May 2024 15:21

Other schemes are available (if you have a different forename) ...

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