Companies in exempt sectors such as finance, health, insurance, and education can only reclaim VAT on purchases to the extent that those purchases are attributable to taxable (i.e. non-exempt) sales.
What if a purchase is used to make both exempt and taxable sales?
How much VAT can be reclaimed?
We have successfully negotiated advantageous special methods of calculation with HMRC on many occasions - and for more information, contact Alan or Nick. |