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02 Apr 2010 - First Tier Tax Tribunal Decisions UKFTT 83 to UKFTT 120
24 Mar 2010 - Budget 2010 - summary of VAT items.
10 Mar 2010 - Budget 2010 - the first one?
09 Mar 2010 - Partial Exemption Simplification - announcement by HMRC
08 Mar 2010 - First Tier Tax Tribunal UKFTT 63 to UKFTT 74
26 Feb 2010 - Paying VAT by cheque - HMRC move the goal posts
26 Feb 2010 - First Tier Tax Tribunal UKFTT 59 to UKFTT 61

Partial Exemption Simplification - announcement by HMRC

posted 09 Mar 2010
categories: Information Sheet, Revenue & Customs Brief

HMRC have released Revenue & Customs Brief 10/10 announcing the next stage of the simplification of Partial Exemption.

Before you go rushing off to look at it, all it does is to provide a link to Information Sheet 4/10. This in turn provides a link to the PDF verion of Information Sheet 4/10.

The simplification affects the de minimis rules and how they can be applied. It has two levels:

  • Annual; and
  • VAT period.

    • Whilst it is not a huge leap forward in simplifying the impact of partial exemption on the many businesses that are on the margins of the rules, and that may not even know they should be applying them, has to be welcomed.

    HMRC will be publishing the statutory instruments that amend the current rules. HMRC have said that the SIs have been laid and come into force on 1 April 2010.