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”.
Related content from Claritax Books
Value Added Tax, written by Ciaran McGee MA (Oxon), FCA, CTA, is an extensive volume (over 1,000 pages), written primarily for non-VAT specialist accountants and tax advisers.