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Disbursement

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Disbursement

  • This topic has 2 replies, 2 voices, and was last updated 2 months ago by JillyB.
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  • November 16, 2022 at 9:12 pm #671655
    eliaslinus
    Participant
    • Topics: 37
    • Replies: 55
    • ☆☆

    If a cost is classified a disbursement, and e.g., say the disbursement was with respect to an advice obtained obo the client. The advisor charged VAT on his services. Should the disbursement be gross of the advisory invoice, i.e. inclusive of VAT, or should it be net of VAT? I understand that no further VAT should be charged on disbursements.

    If it should be net, would the supplier be able to claim input VAT on the invoice received from the advisor that was paid obo the client?

    November 16, 2022 at 10:28 pm #671657
    eliaslinus
    Participant
    • Topics: 37
    • Replies: 55
    • ☆☆

    E.g. Party A charged party B and party B charges party C. In this case, when party B issued an invoice for the disbursements to party C, should party B invoice for the disbursements gross or net of the invoice received by party A? Moreover, is the input tax allowed party B or by party C, since the expense is obo party C?

    November 18, 2022 at 11:02 am #671803
    JillyB
    Moderator
    • Topics: 0
    • Replies: 179
    • ☆☆

    Wow what a question!
    Where is the manu al are you looking to find the solution?

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