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The Capital Goods Scheme for VAT
THE CAPITAL GOODS SCHEME FOR VAT
How it works and interacts with capital allowances.
The VAT capital goods scheme affects input VAT recovery relating to high-value capital assets. Input VAT is a tax incurred on most purchases made by VAT-registered firms, and they can usually reclaim it from HMRC in full.
The scheme usually applies to partially-exempt businesses and firms with assets that were used for both non-business and business purposes at the time the asset was purchased.
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