Summer 2009 Newsletter Content Pot and kettle No more stealth Pensions hit A place in the sun Ready or not... Nice motor Making allowances Good times, bad times Tax-free checkup Three square meals Funny question Dividend rules OK? Too good to be true? Pay my friend Early EIS Mind the halfpennies Just the ticket Flat rate changes Foreign Service This year, next year Partial exemption Penalties Compliance checks Under their eye Howzat? Know your rights Discipline Don't be mean Redundancy Two sorts of absence Warranties

Partial exemption If you make some supplies which are charged to VAT and some that are exempt, you suffer a restriction on your input tax recovery under the rules of partial exemption. Last year HMR&C consulted businesses on improving and simplifying these rules, and they have brought in the first batch of changes to take effect from 1 April 2009. They didn't give us much notice, but all of the changes genuinely make life better for businesses, so for once we won't complain. If you are partially exempt for VAT purposes, we can explain how the changes will affect you.