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Partial exemption: The recoverable part of 'the pot'

Category Technical Articles
AuthorTechnical Department
Article by Stanley Dencher, Senior Technical Editor, CCH Information. This article appeared in the February 2007 issue of Tax Adviser. Post-PBR, the author explores the partially-exempt position. Generally, recoverable VAT relates to making taxable supplies. However, in practice, this principle can be difficult to apply, because some persons make both taxable and exempt supplies. Furthermore, HMRC carefully check VAT returns sent by persons who could be partially-exempt.

February 2007 by Stanley Dencher

Technical Department
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