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HMRC is streamlining the processes used by opticians and dispensers of hearing aids to account for VAT on their supplies.
Opticians that dispense spectacles or contact lenses to their customers make two supplies for VAT purposes: the spectacles or lenses – which are taxable at the standard rate – and a supply of dispensing services which is exempt. Similarly dispensers of hearing aids make a taxable supply of hearing aids and an exempt supply of dispensing services.
To account for VAT on the taxable element of their sales opticians and hearing aid dispensers may either:
- use separately disclosed charges for each supply notifying each separate charge to the customer at the time of sale; or
- charge a single price to the customer and make a fair and reasonable apportionment of the income between the taxable and exempt elements of the supply using a method of their...
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