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A reminder that you must charge VAT on telegraphic transfer fees. These
should be included in your bill as part of your profit cost charges
(VATable), rather than as disbursements (which are not VATable). The
logic behind this is that the telegraphing of the funds is an integral part
of your service and therefore forms part of the work you do (ie your profit
cost). For guidance on this see note in [2008] LSG 7 February 29.
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March 2008 |
