VAT Notice 706 - Partial Exemption
The above notice has been revised to incorporate several changes to the partial exemption rules.
The main changes are:
- changes to simplify the standard method;
- changes to simplify the de minimis rules;
- the combined business/non-business and partial exemption (PE) method;
- changes to the Capital Goods Scheme (CGS) and clawback/payback rules.