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Introduction to VAT

It is the responsibility of Heads of Departments to ensure that their Department accounts correctly for VAT and, where appropriate, corporation tax1.

The aim of this guidance is to give a brief overview of Value Added Tax (VAT) and how it works, followed by a more in depth look at how VAT applies to the University. This will include the following topics:

  • VAT on income and choosing the correct tax rate to apply to income received;
  • What purchases are liable to VAT and what will not have a VAT charge; and
  • Transactions involving overseas customers and suppliers.

The guidance also covers other tax issues including:

  • Duty charges on imports and exemptions from duty;
  • Corporation tax issues; and
  • Gift Aid on Donations.

If you have a query that is not covered by this guidance the University Tax Team will be happy to deal with issues by telephone or e-mail.

1Financial Regulations 2012, regulation 12.1

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