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17 December 2024
Private schools
I have read John O’Hare’s recent article in Taxation about pre-registration input tax for private schools (‘Could do better’ 7 November 2024) but I am confused by HMRC’s published guidance on this subject (tinyurl.com/5y6466a3).
The specific item I need to deal with relates to desks and chairs purchased by my private school client in 2023 for their classrooms:
- At the time of purchase the desks and chairs were wholly relevant to exempt supplies ie school fees are exempt until 31 December 2024.
- The furniture will be used for taxable supplies after this date because tuition fees will be standard rated. So based on HMRC’s guidance to review the input tax claim over five years this means my client can claim 60% of the VAT on their first return ie three years out of five.
- However some supplies linked to...
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