Breaking the Mold: How a Sole Trader Can Build an Empowering Team

 VAT on Events: Online or In-Person

Now that the world is gradually returning to normal after more than a year of Covid-19-induced disruption, many businesses are organising in-person events, fairs, trade exhibits, and other gatherings. Your company may be considering doing this on its own. Perhaps you're an old hand at event planning and will be getting back into the groove of things. But have you thought about your worldwide VAT registration? With VAT rates in the EU ranging as high as 25%, the question is not trivial, and the company that overlooks the VAT consequences for its clients and for itself risks jeopardizing its entire financial future.

The questions are numerous and varied. If you are arranging the event in your home nation, you may believe that the answers are straightforward, but they are not always so. We all know that the General Rule for Business-to-Business Services states that the service is taxable where the recipient does business. But did you know that entrance to artistic, cultural, scientific, and educational activities is exempt? What about the supply services associated with immovable property? This is an exemption to the General Rule, but how does it apply to Trade Show booths? What about electrical supplies, food services, furniture rentals, or display elements? What about your audience? If they are business customers, they will be allowed to reclaim input VAT.

Best  accountant in London

All of these concerns, and others, must be addressed with caution. And their significance only grows when the international component is introduced. Whether you're hosting an event in another country or have international guests at your domestic event, you'll want to make sure that VAT is handled correctly to save both your own and your attendees' costs.

What if I went digital?

"However," you say, "my next event is a *digital* event." We're going to have an online meeting." "It worked during the pandemic, so don't fix it," you say. Regrettably, the rules governing online events are as convoluted. If you have consumers in the United Kingdom or the European Union, you may be subject to VAT. Indeed, you may be required to register for VAT in each EU member state where you have customers, necessitating registration through one of the One Stop Shop Schemes. However, do you require the Union Scheme or the Non-Union Scheme? How about a VAT Mini-One-Stop-Shop? What is the Member State of identification, exactly? Do you require an intermediary? Then there's the issue of event swag. How would you get goodies to your attendees if you wanted to send it to them? Is VAT applicable?

Fortunately, the experts at Cheap Accountant in London are happy to assist. Our VAT Consultants are available in-person and online to explain the intricacies of VAT compliance for your event management operations. We can ensure that the relevant VAT rates are applied and that the transactions are reported to the appropriate tax authorities. If you choose, we can even do it for you. We can also advise you on how you can help your customers save money on their VAT bills. Running events is difficult enough. You must balance advertising, speakers, catering, logistics, and a variety of other issues.