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HMRC internal manual

VAT Taxable Person Manual

Issues to consider: joint ventures and partnerships: the role of VTAXPER50000

There are many instances in which two or more parties come together for the purpose of a specific business venture. In these situations, it can be difficult to determine whether the venture itself has made a supply, or whether the venturers are supplying each other prior to one of them supplying the final product. This section will help you answer these questions and will also advise you of the invoicing and accounting procedures which apply to each different situation. The guidance gives details of the questions that you should answer, together with casework and tribunal precedents.

There is, however, one particular circumstance which is not covered in this guidance. This is where two parties come together to refurbish a property and then sell it on. Here it can be difficult to decide whether one party has supplied refurbishment services to the other, who has then sold the property, or whether the two parties have sold the property jointly. As this problem is peculiar to the land and property field, you will find full guidance in V1-8: Land and property, including details of a number of relevant tribunal decisions.