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Markel Tax

19 Sep 2019

Partial exemption and capital goods scheme

On July 18 2019, HMRC published a consultation document calling for evidence to explore ways to improve the operation of partial exemption (PE) and the capital goods scheme (CGS).

PE calculations are difficult at the best of times and the CGS has been an equally awkward complication, meaning responding to HMRC is encouraged.

The consultation focuses on three areas within PE and CGS that could be improved:

  1. Applying for a Partial Exemption Special Method (known as a “PESM”)
  2. The PE “de minimis” threshold
  3. The mechanics of the CGS including thresholds and intervals

In this article, our senior VAT consultant, Punnit Vyas, considers what these areas are before exploring them further and how they might be improved upon.

Click here for the article.

Tagged Value added tax (VAT) services Value added tax (VAT) services
Next article in series

16 Sep 2019

Grant funding for Brexit costs