PE77450 - Guidance for specific trade sectors: Lloyd's VAT arrangements: Lloyd鈥檚 Advisors - Partial Exemption method
皇冠体育app annual adjustment will be declared in the first quarter following the end of their VAT tax year.
皇冠体育app partial exemption agreement will comprise at least the following components:
SECTOR 1 - LLOYD鈥橲 ADVISOR
皇冠体育app calculation will be based upon the value of fees charged to individual corporate members which the advisor is authorised by Lloyd鈥檚 to advise.
皇冠体育app sector recovery calculation will be;
Value of taxable supplies and other supplies with I/T credit = recoverable % to 2 decimal places
Total value of supplies
触鈥攟
Input tax recovery on supplies that are outside the terms of the advisor鈥檚 agreement may comprise a separate sector.
SECTOR 2 - INVESTMENTS
皇冠体育app calculation will be based on either the number or value of securities sales.
皇冠体育app sector recovery calculation will be;
Number or value of O/S with I/T credit sales of securities recoverable % to 2 decimal places
Number or value of total sales of securities
触鈥攟