Simplifying VAT partial exemption rules
1st July 2008, 1:43 pm
HM Revenue and Customs has launched a consultation on ideas to simplify the VAT partial exemption rules, inviting comments on the three partial exemption areas identified as simplification priorities by businesses: standard method, de minimis rules and Capital Goods Scheme.
HMRC Brief at http://www.hmrc.gov.uk/briefs/vat/brief3008.htm, or go direct to the consultation document (pdf, 289KB). Respond by 30th September.
Given the importance of partial exemption (and its complexity) to many medium and large charities, Charity Finance Directors’ Group is encouraging responses and has a briefing note via http://www.cfdg.org.uk/cfdg/inf_con_partialexemptioncaptialgoods.asp.