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Information Sheet 6/11, March 2011

This Information Sheet provides information on implementing the EU Technical Directive, the combined business/non-business partial exemption method, treating assets as outside the business, changes to the Capital Goods Scheme (CGS) and legislating for a concession for VAT incurred before registration.

1 Introduction

The Technical Directive

1.1 Who should read this guidance?

Taxpayers who:

1. ��

   —�������� incur VAT relating to land and property, ships, boats or other vessels, or aircraft that are to be used for exempt or non-business/private activities

2. ��

   —�������� already use Lennartz accounting for any assets

3. ��

   —�������� currently have items in the CGS

4. ��

   —�������� are representative members of VAT groups with CGS items

5. ��

   —�������� acquire CGS items before they register for VAT.

Before reading this guidance you will need to have an understanding of the partial exemption and CGS rules. Further information can be found in Public Notices 706 “Partial Exemption” and 706/2 “Capital Goods