Tag Archives: VAT-shares

VAT: Partial exemption – HMRC guidance updated

By   13 January 2026

HMRC Publications

HMRC has updated its Notice 706 on partial exemption. This guidance explains partial exemption and the methods and calculations a business may use to calculate the amount of input tax it can recover. 

More detailed guidance has been added to Paragraph 10.2 on a company’s sale of existing shares.