Dear fellow members,
I have been looking through various tax journals, information on the net, and also speaking with the technical team with HMRC.
From what I understand and I may be wrong that if a Umbrella company charges a margin on the initial value of a n employee contract, the margin is not subject to VAT. However if the Umbrella company charges an admin fee then this is subject to the usual VAT rules.
I have spoken to a number of Accountants who either don't know or just got a gut feeling.
Does anyone know if the margin is subject to VAT, and can they point me in the right director in terms of the law pertaining to it.
Regards
Aubyn Strachan
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