Businesses making exempt and taxable supplies need to restrict their input tax recovery accordingly. As now is the time for most partly exempt businesses to calculate their annual VAT adjustment, HMRC’s Revenue & Customs Brief 4 (2021) should also be considered.
Source Blick Rothenberg
Latest Posts in "United Kingdom"
- Isle of Wight NHS Trust vs HMRC: VAT Exemption Dispute on Locum Medical Practitioners
- HMRC Guidance: How to correct VAT errors and make adjustments or claims (VAT Notice 700/45)
- Supreme Court Decision Mandates Prudential to Pay VAT on £9.3 Million Success Fees
- UK Supreme Court Rules on VAT Grouping and Time of Supply in Prudential Case
- High Court Rules in Favor of Hotelbeds UK on Input Tax Recovery Without VAT Invoices