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T: |
01784 777 700 |
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E: |
enquiries@taxsystems.com |
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W: |
www.taxsystems.com |
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T: |
01784 777 700 |
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E: |
enquiries@taxsystems.com |
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W: |
www.taxsystems.com |
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Calculate recovery percentage at group level? |
The Calculate recovery percentage at group level? option is used to determine how the partial exemption percentage for the group is to be derived. A group is treated as a single taxable person for the purposes of VAT therefore, the standard approach to calculate the group partial exemption percentage is to take the results of the group as a whole and apply the standard method calculation. Please see the HMRC definition of a VAT group help page for further information. By default, this option is set to Yes and all members of the group are included within the group recovery calculation. You can add or remove members from the group recovery calculation via the Manage members button and resulting dialogue, please see the Manage members section for further explanation. If No is selected, AlphaVAT will calculate a partial exemption percentage for each group member individually and the individual results will then be summed across all group members to arrive at the consolidated VAT Return for the group. |
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