Independent VAT Consultant
Columnist
Share this content
Money coronavirus
istock_money_AndreyPopov

VAT: New partial exemption concession

by

Partially exempt traders can apply for a retrospective special method, if they have been impacted by the pandemic restrictions. Neil Warren explains how some taxpayers could save thousands of pounds.

7th Apr 2021
Independent VAT Consultant
Columnist
Share this content
R&C Brief 04/21

Revenue and Customs Brief 04/21 concerning VAT and partial exemption is very complicated and verbose. Many readers will have given up the ghost by the end of the first paragraph! But HMRC is actually giving a great opportunity here, which might help many partly exempt businesses whose trading patterns have been badly affected by the coronavirus pandemic.

Here is a practical case study to explain things.

Register for free to continue reading

It’s 100% free and provides unlimited access to the latest accounting news, advice and insight every day. As well as access to this exclusive article, you can:

View all AccountingWEB content
Comment on articles
Watch our digital shows and more

Access content now

Already have an account?

Replies (1)

Please login or register to join the discussion.

my photo
By RebeccaChapman
16th May 2021 10:53

The fitness industry was one of the first to be hit by the coronavirus. During a pandemic, it is almost impossible to ensure the safety of people playing sports indoors.

Thanks (0)