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VAT input tax claims must be restricted if some income exempt or outside scope of VAT

VAT input tax claims must be restricted if some income exempt or outside scope of VAT

by David Wilsdon on 24 August 2016 with No Comments

VAT on costs can only be claimed in so far as the costs are attributable to taxable supplies.  A recent tax case highlighted the need to apportion input tax claims on business overheads where significant income is exempt or outside the scope of VAT.

To discuss any aspect of VAT further please book a chat with us here.

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