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 — UK US adjective [before noun] UK (US collect) ► COMMUNICATIONS used to describe a phone call which is paid for by the person who receives it: »We made a reverse charge call to the New York office …   Financial and business terms

  • Reverse charge — may mean: * In placing telephone calls, reversing charges is also known as a Collect call. * With rechargeable batteries, a mistake in use or charging may lead to Reverse charging …   Wikipedia

  • Reverse Charge — Das Abzugsverfahren (int.: Reverse Charge) ist eine Sondernorm im Umsatzsteuerrecht, die den Übergang der Steuerschuldnerschaft regelt. Nach derzeit geltendem Umsatzsteuergesetz muss ein Leistungserbringer die Umsatzsteuer vom Leistungsempfänger… …   Deutsch Wikipedia

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

  • reverse-charge call — UK US noun [countable] [singular reverse charge call plural reverse charge calls] british a telephone call that the person you are calling agrees to pay for. The American word is collect call . Thesaurus: telephone calls and types of telephone… …   Useful english dictionary

  • reverse charge call — reverse charge calls N COUNT A reverse charge call is a telephone call which is paid for by the person who receives the call, rather than the person who makes the call. [BRIT] (in AM, use collect call) …   English dictionary

  • reverse-charge call — UK / US noun [countable] Word forms reverse charge call : singular reverse charge call plural reverse charge calls British a telephone call that the person you are calling agrees to pay for. The American word is collect call …   English dictionary

  • reverse-charge call — re,verse charge call noun count BRITISH a COLLECT CALL …   Usage of the words and phrases in modern English

  • reverse charge — Normally, it is the supplier of goods or services who must account to HM Revenue & Customs for any VAT due on supplies. In certain situations, however, it is the customer who must account for the VAT instead. Also known as Tax Shift. HM Customs & …   Financial and business terms

  • 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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