Transcription of VAT partial exemption toolkit - GOV.UK
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VAT partial exemption toolkit - GOV.UK
VAT partial exemption toolkit Published June 2020. Index Introduction .. 3. Areas of risk within VAT partial exemption .. 3. Using links within this document .. 7. Checklist for VAT partial exemption .. 8. Explanation and mitigation of risks .. 11. Effective from 31 January 2020 2. Introduction Tax agents and advisers play an important role in helping their clients to get their tax returns correct. This toolkit is aimed at helping and supporting tax agents and advisers in completing VAT Returns on behalf of their clients, although it may also be of use to anyone who is completing a VAT Return. It may also be of use to tax agents and advisers who do not complete their client's VAT Return but wish to use it as a source of reference when advising their client on VAT matters or for reviewing their client's VAT declarations at the year end.
Whether a business uses the standard method or an approved special method, the apportionment made should reflect the way it uses the residual input tax to make supplies. The business should regularly consider whether its method remains a valid measure of that use. The annual adjustment may be a convenient time to do so.
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