The following Value Added Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
The table below provides a definition of commonly used partial exemption terminology.
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There are several sets of provisions in the Taxes Acts which relate to ‘close’ companies, most of which are anti-avoidance measures aiming to catch transactions between those companies affected and their owners, where there may otherwise be a tax advantage. Broadly speaking, most owner-managed or
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