Gifts-VAT

This topic has 1 reply, 2 voices, and was last updated 5 years ago by Tax Tutor.

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July 18, 2020 at 2:37 pm #577304

agnes222
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sir gifts less than or equal to 50pounds made to any person/12month are not treated as taxable supplies. but if the gift exceeds 50pounds limit then the entire gift amount becomes a taxable supply? or only the excess amount?

thanks once again sir!

July 20, 2020 at 12:50 pm #577453

Tax Tutor
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The entire amount
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