HMRC has announced that legislation will be introduced in Finance Bill 2012 to implement Article 132(1)(f) of the Principal VAT Directive (2006/112/EC) into UK law. The cost-sharing exemption allows organisations with exempt or non-business activities to form cost-sharing groups without incurring VAT charges on shared services.
HMRC has announced that legislation will be introduced in Finance Bill 2012 to implement Article 132(1)(f) of the Principal VAT Directive (2006/112/EC) into UK law. The cost-sharing exemption allows organisations with exempt or non-business activities to form cost-sharing groups without incurring VAT charges on shared services.
