VAT guide (VAT Notice 700) – updated re apportionment of output tax

HMRC have updated section 31 of the VAT Guide. The section deals with the apportionment of output tax.

The update gives two “basic methods of apportioning output tax – one based on selling prices, the other based on cost values”.

https://www.gov.uk/guidance/vat-guide-notice-700?utm_medium=email&utm_campaign=govuk-notifications-topic&utm_source=abe480a9-29c7-4579-8056-a912206f57ef&utm_content=daily#apportionment-of-output-tax

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