HMRC has published a report on research commissioned to explore businesses’ knowledge and use of VAT partial exemption, and gather information on VAT recovery. The research, carried out in February and March 2017, involved a telephone survey of 1,932 VAT-registered businesses in 17 industry sectors. In particular, it looked at:
awareness of VAT partial exemption;
knowledge of the different methods; and
how much VAT is being recovered by businesses in different industry sectors.
The report found awareness of VAT partial exemption was high, although with considerable variation between industry sectors. Knowledge was greatest among financial services, education and activities auxiliary to finance.
The highest VAT recovery rates were in retail (74%) and public administration (86%). The lowest were in social work activities without accommodation (22%) and education (23%).
HMRC has published a report on research commissioned to explore businesses’ knowledge and use of VAT partial exemption, and gather information on VAT recovery. The research, carried out in February and March 2017, involved a telephone survey of 1,932 VAT-registered businesses in 17 industry sectors. In particular, it looked at:
awareness of VAT partial exemption;
knowledge of the different methods; and
how much VAT is being recovered by businesses in different industry sectors.
The report found awareness of VAT partial exemption was high, although with considerable variation between industry sectors. Knowledge was greatest among financial services, education and activities auxiliary to finance.
The highest VAT recovery rates were in retail (74%) and public administration (86%). The lowest were in social work activities without accommodation (22%) and education (23%).
