The Value Added Tax (Amendment) Regulations, SI 2015/1978, implement VAT changes following the CJEU decision in Crédit Lyonnais.
The Value Added Tax (Amendment) Regulations SI 2015/1978 implement VAT changes following the CJEU decision in Crédit Lyonnais. From 1 January 2016 UK businesses using the standard partial exemption method will no longer be able to recover input tax in respect of supplies made by foreign branches. Recovery may be allowed for special methods based on sectors provided the method reflects the use made of goods and services and the type of activity undertaken in each sector. Revenue & Customs Brief 22/2015 provides related guidance.
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The Value Added Tax (Amendment) Regulations, SI 2015/1978, implement VAT changes following the CJEU decision in Crédit Lyonnais.
The Value Added Tax (Amendment) Regulations SI 2015/1978 implement VAT changes following the CJEU decision in Crédit Lyonnais. From 1 January 2016 UK businesses using the standard partial exemption method will no longer be able to recover input tax in respect of supplies made by foreign branches. Recovery may be allowed for special methods based on sectors provided the method reflects the use made of goods and services and the type of activity undertaken in each sector. Revenue & Customs Brief 22/2015 provides related guidance.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")