Commentary

De minimis limit for application of partial exemption rules

Tax tables
Tax tables | Commentary

De minimis limit for application of partial exemption rules

Tax tables | Commentary

Partial exemption

De minimis limit for application of partial exemption rules

Exempt input tax not exceeding
Periods beginning between 1.4.87 and 31.3.92(a) £100 per month on average; or
(b) £250 per month on average and 50% of all input tax; or
(c) £500 per month on average and 25% of all input tax
Periods beginning between 1.4.92 and 30.11.94£600 per month on average
Tax years beginning after 30.11.94(a) £625 per month on average; and
(b) 50% of total input tax for prescribed accounting period

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial