HMRC withdraws research VAT exemption

UK businesses and academic organisations may do less research after after the withdrawal of an exemption of VAT on research, businesses and universities said.

The government withdrew the VAT exemption for the supply of research on 1 August after it was told that the exemption was incompatible with European Union legislation.

Continued…

Via HMRC withdraws research VAT exemption | AccountingWEB.

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