Reverse charge: carousel fraud
£5,000 limit
Accounting system, required changes
Adjustment of output tax
Adjustments to VAT account where supply becomes or ceases to be a supply
Application
Conditions
Power to amend law
Cash accounting scheme
Charities
Contra-trading fraud considered
Corresponding supply
Effective date: 1 June 2007
Enforcement
Excepted supply
Flat-rate scheme
General provision
Generally
Goods subject to
Interaction with
Annual accounting scheme
Cash accounting scheme
Flat-rate scheme for small firms
Margin scheme
Invoices
Local authorities
Payments on account scheme unaffected by
Penalties initially applied with light touch
Recipient of supply accounting for VAT
Registration number, checking
Registration threshold
Return entries
Reverse charge sales lists
Sales statements
Second-hand margin scheme
Services subject to reverse charge
Tax debit note
Unpaid supplies: adjustment of reverse charge
Value of supply