HM Revenue and Customs Brief 68/07
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Issued 14 November 2007
VAT: Assets used partly for non-business purposes – implementation of
‘Lennartz Accounting’ Regulations
At Budget 2007 a package of 3 measures was announced concerning the VAT
treatment of assets to be used partly for non-business purposes - further
details are set out in
56. The ‘Lennartz Accounting’ regulations, referred to in section (b) under
‘General Description of the Measure’ in the Budget Note, came in to force on 1
HMRC has produced detailed guidance, including worked examples, to accompany
these regulations and this is available on VAT information Sheet 14/07. This
replaces Business Brief 15/05, which has now been withdrawn.
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Article Published/Sorted/Amended on Scopulus 2007-11-16 10:17:40 in Tax Articles