One of my clients wants to sell tickets to help promote an event. We will not be buying the tickets but passing on the proceeds directly at a no profit for us price.
I was hoping this would class as a disbursement and I could zero rate the sale but I suspect that the key wording may be we "sell" the tickets and hence, as a VAT reg Company, we must charge VAT.
Unfotunately the ticket supplier is not VAT regd or this wouldn't matter as we could just pay and re claim the same amount of VAT.
Ideas?
All the very best to all. I have not been posting much recently due to setting up a new Company, if anyone has 5 minutes (and likes skiing!!) this is "our story" as featured in The Telegraph Business section.