Place, Time and Value of Supply
Tax points, place-of-supply rules, valuation, discounts, self-supplies and transfer of a going concern.
How to study the ATT Qualification
Use Finance Act 2025 for the 2026 tax papers, complete the three foundational CBEs early, apply professional ethics throughout and concentrate option practice on the one paper you will enter.
Core concepts
Concept 1
Place of supply determines whether UK VAT is in scope.
Exam cue: Classify goods or services and customer status before place.
Concept 2
Time of supply identifies the VAT period and rate point.
Exam cue: Compare basic and actual tax points.
Concept 3
Value rules determine the taxable amount where consideration is money, non-money or connected-party value.
Exam cue: Reconcile consideration and statutory value adjustments.
Risk pitfalls and guardrails
Using invoice date without checking tax-point rules.
Guardrail: Do not use an obsolete tax rate, assume a relief, ignore legal form, submit unsupported information or omit the relevant deadline and ethical response.
Applying goods place rules to services.
Guardrail: Do not use an obsolete tax rate, assume a relief, ignore legal form, submit unsupported information or omit the relevant deadline and ethical response.
Treating a qualifying transfer of a going concern as an ordinary taxable sale.
Guardrail: Do not use an obsolete tax rate, assume a relief, ignore legal form, submit unsupported information or omit the relevant deadline and ethical response.
Memory anchors
Place
Identify goods or service, route, supplier and customer status.
Basic tax point
Start with the statutory supply event before testing overrides.
Actual tax point
Invoice or payment timing may override the basic point.
Value
Determine consideration and any required open-market adjustment.
TOGC
Check business continuity, assets, registration and intended use conditions.
Checkpoint rule
Do the check-up only after you can summarize each concept in one sentence and identify one dangerous pitfall from memory.
Knowledge Check (after reading)
Short check-up to confirm understanding of this module.
Check-up Questions
Goods are delivered on 10 June, invoice issued on 20 June and payment received on 30 June. No special rule applies. What is the basic tax point?
A VAT invoice is issued five days after the basic tax point within the permitted 14-day window. What time of supply normally applies?
Answer all questions to submit.
Next step personalized recommendations
Continue learning
Move forward only after this module is stable.
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