VAT de Minimis for opticians
Posted on 7th March 2022 at 16:25
What is Vat de Minimis?
Partially exempt businesses can take advantage of something called the 'de minimis rule'.
If your exempt input tax (purchases from suppliers) is below a certain limit, you can treat it as if it is a taxable purchase, thus allowing you to recover the full VAT that you pay on those purchases.
We have created a new video to help opticians better understand what Vat-de Minimis means and how it can play a part within the practice. Watch right here >
Remember, always consult with your accountant before making any financial investments for your business.
Additional information relating to the latest government advice can be found here
Tagged as: vat de minimus, VAT de-Minimis, VAT de-Minimis for optical practices, VAT de-Minimis for Opticians
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