- Following recommendations from the OTS, the previous government requested comments and suggestions to improve operation of the partial exemption rules and the Capital Goods Scheme (CGS).
- HMRC introduced an online process for submitting proposals for partial exemption special methods (PESM) and a checklist of information required for PESM applications.
- HMRC will consult on the impact of the changes and the need for further amendments, including with respect to the CGS.
- Timing: it is currently not clear when any further changes may take effect.
Resources (click to open)
- VAT: Simplifying partial exemption and capital goods scheme (HMRC consultation (July 2019), response paper (March 2021))
