Partial exemption - De minimus tests

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Nikdoug
Nikdoug Registered Posts: 69 Regular contributor ⭐
in AAT Level 4 (Level 8 in Scotland)
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

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  • anniem
    anniem Registered Posts: 1,326 Beyond epic contributor 🧙‍♂️
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    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
    FMAAT - AAT Licensed Member in Practice - Pewsey, Wiltshire
  • Nikdoug
    Nikdoug Registered Posts: 69 Regular contributor ⭐
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    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

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