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HMRC internal manual

VAT Supply and Consideration

HM Revenue & Customs
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Whether supplies are goods or services: Distinguishing between purchase and hire agreements: Balloon payments

In some purchase agreements, there is a final instalment for a large amount instead of a large deposit payable up front. This is often called a balloon payment. It is usually quite clear from the agreement that a price for the purchase of the goods has been agreed at the outset.