HMRC has issued new guidance: Revenue and Customs Brief 10(2022) on how to determine if an entity carries out business or non-business (NB) activities. This goes to the core of the tax and establishes whether a person:
- is registerable for VAT
- charges output tax
- can recover input tax
It mainly affects charities, NFP, an organisation which receives grants or subsidies and entities which are carrying out NB activities.
Source: marcusward.co
