Commentary

RCB/56/07 Assets used partly for non-business purposes—delay in implementation of “Lennartz Accounting” Regulations

Part V16 Forms and other HMRC material

RCB/56/07 Assets used partly for non-business purposes—delay in implementation of “Lennartz Accounting” Regulations

RCB/56/07 Assets used partly for non-business purposes—delay in implementation of “Lennartz Accounting” Regulations

Revenue & Customs Brief, Issue 56. 13 August 2007

At Budget 2007 a package of three measures was announced concerning the VAT treatment of assets to be used partly for non-business – further details are set out in Budget Note 56. The “Lennartz Accounting” regulations, referred to in section (b) under “General Description of the Measure” in the Budget Note, which were due to come into force on 1 September 2007, will now come into force on 1 November.

As explained in the Budget Note, “Lennartz Accounting” is where

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