Travel VAT and TOMS
In the travel industry, navigating VAT regulations can be especially challenging due to their complexity and frequent changes. This often makes it difficult to stay updated and maintain VAT compliance and efficiency.
Expert TOMS & VAT advice
Our team of expert accountants is committed to delivering personalised advice and solutions that drive your business’s success. With extensive expertise in the Tour Operators Margin Scheme (TOMS) and VAT regulations, we help your business stay compliant, enhance profitability, and mitigate risks.
We provide guidance to a diverse array of travel businesses – including tour operators, travel agents, event management companies, TMCs, DMCs, and service providers – and have encountered virtually every VAT challenge within the travel industry.
TOMS
The Tour Operators’ Margin Scheme (TOMS) is a VAT accounting scheme for businesses that buy and resell travel and related services. Originally designed to simplify VAT for UK businesses, TOMS now applies differently after the UK’s departure from the EU in 2021.
In the UK, TOMS still applies for domestic travel, with VAT paid only on UK holiday and travel margins. For travel outside the UK and EU, the margin is zero-rated. Discussions within the EU continue on whether non-EU travel businesses should register for VAT in the countries they operate in.
Our travel team has extensive experience with TOMS rules and can help optimise your VAT situation, whether within TOMS or outside of it, to benefit your travel business.
Travel VAT
Businesses in the travel industry have concerns that extend beyond just TOMS. With extensive experience advising on various common industry issues, such as the choice between agency and principal models, input VAT recovery, VAT place of supply rules, agency billback, and VAT on credit card fees, we are well-equipped to address the multifaceted needs of our clients.
Our in-house VAT specialists bring their expertise in VAT and TOMS, working in tandem with our dedicated Accounts & Audit team, which oversees TOMS reporting for more than 200 travel businesses.
What our clients say
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Whether you have a clear goal in mind or are open to exploring possibilities, we’re at your service to assist you.
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With over 25 years of experience and expertise in the travel industry, effective and pragmatic processes and extraordinary commitment to service, you can be sure that your travel business is in good hands with Xeinadin.
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