Partially exempt

In the context of value added tax ( (VAT), a taxable person who makes both taxable supplies ( and exempt supplies ( is "partially exempt" and will be able to recover any VAT (as input tax ( ) that is attributable to his taxable supplies, but not any VAT that it is attributable to exempt supplies.

The partial exemption rules are relevant where a partially exempt taxable person incurs VAT that is not directly attributable to either type of supply, for example, VAT on business overheads. This non-attributable VAT will be recoverable provided that it does not exceed the "de minimis" rules. For more information on the partial exemption and the de minimis rules, see Practice note, Value added tax: Partial exemption ( .

{ "siteName" : "PLC", "objType" : "PLC_Doc_C", "objID" : "1247244915957", "objName" : "Partially exempt", "userID" : "2", "objUrl" : "", "pageType" : "Resource", "academicUserID" : "", "contentAccessed" : "true", "analyticsPermCookie" : "26eb68bb5:15145cb6a38:58a1", "analyticsSessionCookie" : "26eb68bb5:15145cb6a38:58a2", "statisticSensorPath" : "" }