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THE

BEECHAMBER

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NEWS

EXCLUDING VAT AS A PART OF AN ORGANISATIONS TOTAL MEASURED PROCUREMENT SPEND

Stacks of gold coins with wooden blocks on top spelling "VAT" against a soft-focused neutral background, symbolize financial concept.

VAT is a Total Measured Procurement Spend (TMPS) exclusion as per  Clause 6.1 of Statement 400 of the Amended Generic Codes of Good Practice:

 

“6.1 Taxation: any amount payable to any person representing a lawful tax or levy imposed by an organ of state authorised to impose such a tax or levy, including rates imposed by a municipality or other local government."

 

Therefore, to confirm that VAT is an exclusion from an organisation’s TMPS, it must be recorded as such in its Audited Financial Statements or Financial Statements.

 

Enterprise & Supplier Development Services are available to assist Members in understanding the Preferential Procurement element.

  

 

 
 
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