Partially exempt

Resource type: Glossary Item

Status: Maintained

Jurisdictions: England, Wales

In the context of value added tax (www.practicallaw.com/A37171) (VAT), a taxable person who makes taxable supplies (www.practicallaw.com/A37063) and exempt supplies (www.practicallaw.com/A36054) will be able to recover input tax (www.practicallaw.com/A36297) only to the extent that the input tax is attributable to his taxable supplies. Accordingly, such a taxable person is partially exempt from VAT as he is able to recover only part of the input tax that he incurs.

For further information, see Practice note, Value added tax: Partial exemption (www.practicallaw.com/2-107-3725).

Actions
Resource information
Show resource details Hide resource details
  • Resource ID: 3-107-6969
  • Products:  PLC Glossary, PLC Magazine (UK), PLC UK Commercial, PLC UK Construction, PLC UK Corporate, PLC UK Dispute Resolution, PLC UK Employment, PLC UK Environment, PLC UK Law Department, PLC UK Pensions, PLC UK Property, PLC UK Share Schemes & Incentives, PLC UK Tax
  • This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.
Contact the team
Print
Related content
Related content
Practice Note
  • Value added tax Value added tax (http://us.practicallaw.com/topic2-107-3725)
{ "siteName" : "PLC", "objType" : "PLC_Doc_C", "objID" : "1247244915957", "objName" : "Partially exempt", "userID" : "2", "objUrl" : "http://us.practicallaw.com/cs/Satellite/3-107-6969?null", "pageType" : "", "contentAccessed" : "true", "analyticsPermCookie" : "256c544cf:13ecf8842b7:-62ce", "analyticsSessionCookie" : "256c544cf:13ecf8842b7:-62cd", "statisticSensorPath" : "http://analytics.practicallaw.com/sensor/statistic" }