Independent VAT Consultant
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Money coronavirus

VAT: New partial exemption concession


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
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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.

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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.

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