TOMS working party highlights competitiveness danger

Eventia members emphasised the potential negative impacts of the Tour Operators' Margin Scheme (TOMS) tax rules during an inaugural working party meeting today (19 October).

Eventia working party will meet with HMRC over TOMS
Eventia working party will meet with HMRC over TOMS

The TOMS working party has been created to ensure the challenges for the events industry arising from the VAT scheme are communicated with HMRC.

HMRC agreed the need to negotiate with the events industry over fresh guidance on tax issues, including TOMS, during a meeting with Saffery Champness VAT partner David Bennett on 5 September.

Since then, a working party has been set up – with Eventia’s head of the regulation committee Brian Kirsch, and Bennett – with its first meeting held on 19 October.

"There is an overwhelming view around the table that TOMS is affecting the competitiveness of UK event agencies compared to overseas competitors," said Kirsch.

"There is a serious issue around the way TOMS is being implemented and that is something we need to talk about. TOMS has some benefits – it is supposed to simplify the taxation and VAT in events, but members say it is a huge amount of admin.

"People want clarity and consistency," he added.

Agencies involved in the working party:

  • BSI
  • KDM Events
  • Grass Roots
  • Zibrant
  • Rapier Group
  • CWT Meetings and Events
  • Motivaction
  • DRP Group

Kirsch and Bennett will now develop a briefing document, and plan to meet with HMRC to discuss the issues before Christmas.

 

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