VAT: Partial exemption

VAT: Partial exemption

Two changes to the partial exemption de minimis rules will make it easier for businesses to establish their de minimis status HMRC said. The changes effective for VAT accounting periods beginning on or after 1 April 2010 are optional and HMRC's approval will not be required. Details are set out in VAT Information Sheet 04/10 see www.lexisurl.com/hOGb5.