Today the OTS has published an evaluation update on its VAT review, which outlines and evaluates responses by the government, HM Treasury and HM Revenue & Customs to the report published in November 2017.
The OTS is pleased to note substantial progress on guidance and communication, partial exemption and the capital goods scheme, and penalties, alongside wider ongoing consideration of the approach to the VAT threshold. The OTS will continue to monitor future developments and may provide a further review on progress at a later date.
Source: gov.uk
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