- HMRC has updated its guidance on partial exemption in the United Kingdom VAT system.
- The update includes changes based on recent case law, such as the Royal Opera House Court of Appeal case.
- The case examined various factors, including the direct and immediate link test, economic necessity, business/non-business distinction, and chains of transactions.
Source: marcusward.co
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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