Partial exemption - De minimus tests

Nikdoug

Hi there

I have previously been using the simplified de minimus tests for VAT - partial exemption as per this link:

http://www.shipleys.com/__data/assets/pdf_file/0017/8630/VAT---Partial-Exemption.pdf

These rules were introduced in March 2010.

Does anyone know if there has been any changes to these rules with the change in the VAT rate from 04/01/2011.

Thanks

Nick

anniem

Good link Nick.

From reading that it seems that once you've qualified as De-minimis for a full partial exemption year you don't need to do any more PE calculations; or have I misread it??

I took over as Farm Secretary last July and want to get our farm onto PE/De-minimis calculations, which the last lady didn't do.

Does anyone know if I can back-date my partial exemptions calculations for the full year to 6 April 2010?

If so, that would be great for the year from 6 April 2011, as I wouldn't need to do the PE calc monthly!

Anna

Nikdoug

I also found this: http://www.tolleytraining.co.uk/vcd/documents/Chapter%2011%20-%20partial%20exemption.pdf

I think that once you have met de minimus tests for a year then you can just apply de minimus tests for subsequent years and then perform a full test if these are not met. Thats my interpretation. Someone please correct me if i am wrong!

As for back dating the test i wouldn't like to say. Hopefully someone else will have something to say.

Nick