How to account for VAT if you buy in and resell travel facilities as a principal or undisclosed agent.

1. Overview

1.1 What this notice is about

This notice explains how you must account for VAT if you buy in and resell travel facilities as a principal or undisclosed agent (that is, acting in your own name).

It assumes that you have a knowledge of the basic principles of VAT that are explained in VAT guide (VAT Notice 700).

This notice should be read in conjunction with Travel agents (VAT Notice 709/6).

1.2 The law

The relevant VAT law is in the:

Value Added Tax Act 1994, section 53, and Schedule 8, Group 8, item 12

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