Commentary

RCB/30/08 VAT—partial exemption – launch of consultation

Part V16 Forms and other HMRC material

RCB/30/08 VAT—partial exemption – launch of consultation

RCB/30/08 VAT—partial exemption – launch of consultation

Revenue & Customs Brief, Issue 30. 16 June 2008

This Revenue and Customs Brief article announces the launch of a consultation on ideas to simplify the VAT partial exemption rules to reduce compliance costs for businesses. The consultation invites comments and suggestions on the three partial exemption areas identified as simplification priorities by businesses—

  1.  

    —     standard method

  2.  

    —     de minimis rules

  3.  

    —     capital goods scheme (CGS)

It also invites comments on possibly combining partial exemption and business/non-business calculations.

Partly exempt businesses and their representatives are encouraged to participate to help cut compliance costs. Further information on

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