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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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De minimis |
Where exempt input tax is deemed as insignificant, all input tax suffered is deemed to be attributable to taxable supplies and so is fully recoverable, please see the Partial exemption overview help page for further information. During the set-up of the VAT group, AlphaVAT cannot determine whether the de minimis thresholds have been exceeded as the member amounts are not available, therefore this configuration option is required. By default, this option is set to No, meaning normal rules apply and exempt input tax will not be recoverable. You can change the default by clicking on the Yes option, meaning all input tax will be fully recoverable under the de minimis rule. After the group has been consolidated, if this option is incorrectly set, a diagnostic will be displayed, please see the Diagnostic report help page for further information. |
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