VAT de Minimis for opticians

 

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