»Ê¹ÚÌåÓýapp

Each registration making taxable and/or specified supplies (under the Specified Supplies Order 1999 [SI 1999/3121]) in addition to exempt supplies will agree a partial exemption method with HM Revenue & Customs. »Ê¹ÚÌåÓýapp method will reflect their business activities, in relation to which they will calculate the amount of recoverable input tax. »Ê¹ÚÌåÓýapp partial exemption methods will conform to the legislation that prevails.

Input tax will be directly attributed to supplies made and recovered as appropriate. Input tax that cannot be directly attributed to supplies made will be recovered via the agreed partial exemption calculations.

»Ê¹ÚÌåÓýapp treatment of investment activities undertaken by registrations will be agreed as a separate sector within each individual partial exemption method. Input tax recovery on other activities, e.g. share issues, will be subject to the normal rules and may constitute a separate sector.