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Partial exemption
Customs have published a Business Brief which provides further information on the partial exemption changes announced in the Budget (see Taxation 24 March page 621) and which come into force from 1 April 2005. A summary of the extra detail in the Business Brief follows.
Business Brief 27/03 which announced the introduction of the special method override notice set conditions to be met before Customs would serve a notice. One condition was that Customs would not serve a notice unless they have attempted unsuccessfully to persuade the business to comply and have evidence to show this.
This condition no longer applies. Customs may now serve a notice whenever:
- they have clear evidence that the current special method does not fairly and reasonably reflect the principle of use;
- they are satisfied that preparing a replacement method will not conclude...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
