Define: VAT
value added tax chargeable under the VATA or under any legislation replacing it or under any legislation which the VATA replaced and further means value added tax at the rate in force when the relevant supply is made and
value added tax chargeable under the VATA or under any legislation replacing it or under any legislation which the VATA replaced and further means value added tax at the rate in force when the relevant supply is made and any tax of a similar nature which is introduced in substitution for such value added tax;.
Relevant Circumstances
- When a UK supply of goods or services is potentially within the charge to VAT
- If parties need to allocate responsibility for VAT in addition to the headline price
- Where a contract requires gross-up, recovery or invoicing in the correct VAT form
- In the event the VAT rate or treatment changes during the life of the agreement
Relevant Sectors
value added tax chargeable under the Value Added Tax Act 1994 and any similar replacement tax and any similar additional tax.
value added tax chargeable under the Value Added Tax Act 1994, or any tax replacing that tax.