Travel VAT and TOMS
VAT is a complex tax and there are many issues that a travel or hospitality business may need to consider and comply with. Getting your VAT wrong can be very costly and as HMRC become more vigilant in their compliance programme the need to proactively manage VAT is ever more important.
Expert TOMS & VAT advice
At Xeinadin, we provide a wide variety of services, uniquely designed and individually tailored to deliver VAT solutions for our travel sector clients which include tour operators, travel agents, TMCs, DMCs and EMCs as well as other businesses and organisations who find themselves having to think about issues like the Tour Operators Margin Scheme (TOMS) from time to time!
Consultancy
We provide expert advice on specific projects or ongoing issues that affect your business, such as agent v principal issues, consideration of TOMS and VAT liability issues. We can also advise you on disputes with HMRC including VAT assessments and penalties.
We can review UK VAT claims by overseas wholesalers and assist with submission to HMRC.
Compliance
We understand that VAT Compliance is high on any finance director’s agenda. We offer expert periodic health checks to ensure your business is dealing with VAT issues accurately and on time.
Business review
We can undertake detailed reviews of your business and VAT accounting procedures to help minimise risk, reduce cost and identify any savings, plus ensure that you are operating in the most VAT-efficient way.
Management programme
External Management Programmes help you to maintain VAT compliance and identify areas of concern and change. We offer this in conjunction with a valuable helpline service which provides accessible VAT support by phone and email.
VAT resource
We can step in and provide a VAT Resource whenever needed and can provide valuable cover during specialist VAT staff absence.
Training
We deliver tailor-made and generic training to help your staff and managers handle the VAT process more effectively and understand the issues that they need to.
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.
Our Travel & Tourism experts
Liz Maher OBE
VAT PartnerTravel & Tourism, VAT ServicesCardiff
What our clients say
Book a meeting
Book a free, no-obligation chat with our experts where we find out a bit more about your business, explain our services, and how we could work with you.
Get in touch
Whether you have a clear goal in mind or are open to exploring possibilities, we’re at your service to assist you.
Related Insights
Download our Travel brochure
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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