Commentary

V7.349 Partial exemption—foreign income and specified supplies

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.349 Partial exemption—foreign income and specified supplies

Part V7 Tax planning | Commentary

V7.349 Partial exemption—foreign income and specified supplies

UK VAT registered businesses can recover input tax in relation to taxable supplies made in the UK and supplies made outside of the UK that would be taxable if made in the UK. In addition, input tax in relation to the following specified supplies can be recovered:

  1.  

    •     financial services supplied to persons belonging outside of the EU or which are directly related to an export of goods, and the making of arrangements for such supplies

  2.  

    •     insurance services supplied to persons belonging outside of the EU or which are directly

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