Commentary

RCB/12/20 VAT early termination fees and compensation payments

Part V16 Forms and other HMRC material

RCB/12/20 VAT early termination fees and compensation payments

RCB/12/20 VAT early termination fees and compensation payments

Revenue & Customs Brief, Issue 12. Updated 25 January 2021

Details

After communication from businesses and their representatives, HMRC has decided to apply the updated VAT treatment set out in this brief from a future date.

We will issue revised guidance, and a new Revenue and Customs brief to explain what businesses need to do shortly. This will include guidance on what to do if they have already changed how they treat such payments because of this brief.

Until that guidance is issued businesses can either:

  1.  

    •     continue to treat such payments as further consideration for

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