reverse charge

reverse charge
In the context of value added tax (VAT), where certain specified standard rated services (listed in Schedule 5, Value Added Tax Act 1994) are supplied to a person in the UK by a trader outside the UK (inside or outside the EU), the UK recipient is treated as making the supply to himself and must therefore account for VAT on the value of the supply. This will be treated as input tax in his hands and recoverable in full if he is fully taxable.
For further information, see the HM Revenue & Customs website .
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • reverse-charge — adj Brit : ↑collect, 2 a reverse charge phone call …   Useful english dictionary

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  • reverse-charge — /rəˈvɜs tʃadʒ/ (say ruh vers chahj) adjective (of a telephone call) paid for by the person receiving the call …  

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