Chat VAT – Answering Your VAT FAQs

Let's chat VAT. Despite VAT being around for 50 years, many business owners report to still being confused about their VAT obligations, which is understandable given the numerous and often complex applications of VAT across goods and services. In this series of short reads, we provides the essential knowledge and 'how to' guidance for some of your regular VAT queries .

VAT and disbursements

There are many words that are frequently used when describing transactions that may not have the same meaning in a VAT sense as they do in common use, and one of these is 'disbursement'.

This brief article is designed to provide the nuts and bolts on what a disbursement is for VAT purposes and how to identify one in practice. Please note that this is not intended to replace specific VAT advice, and you should contact a member of Price Bailey's VAT team if you are unsure.