Axing of research exemption sparks confusion
Posted by mostafa on 26 April, 2013
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This item was filled under Tax

The VAT exemption for supplies of research between eligible bodies is to be withdrawn, in a move that has led to some confusion.
An HMRC consultation on mitigating the impact of the change has identified a lack of clarity in the distinction between supplies of research outside the scope of VAT, and exempt business supplies that will be affected by the withdrawal.
The taxman has issued Revenue and Customs Brief 10/13 on …