LON (93/590)

No. 12,670

Decision given 20 September 1994.

Input tax – Partial exemption – Partial exemption calculations based on outputs – Meaning of ‘the deductible proportion’ – Reverse premium paid through landlord for surrender of lease – Whether taxable supply – Serious misdeclaration penalty – Whether reasonable excuse – Value Added Tax Act 1983, s. 14; Value Added Tax (General) Regulations 1985 (SI 1985/886), reg. 29, 30(1)(b) and 30(4); Directive 77/388, the sixth VAT directive, art. 19.

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