It is essential that specific confirmation be obtained before any particular supply is so treated. The group headings shown are only indicative of the types of supplies which may be exempt. It is essential that specific confirmation be obtained before any particular supply is so treated. Following the 1999 Budget, the scope of the exemption for financial services supplied by intermediaries has been restricted, with effect from 10 March 1999. The 1999 Budget also introduced an exemption for supplies of investment gold.
Landlords are able unilaterally to elect to waive exemption on most non-domestic land and buildings.
Anti-avoidance measures exist which are designed to disapply the election to waive exemption on certain types of supplies of land and property where the land or property is being put to a partly or wholly exempt use. It is usually necessary to attribute input tax directly to taxable and exempt or other non-taxable supplies as far as possible. The standard method of attributing any remaining input tax is to apply the ratio of taxable supplies to total supplies, subject to the exclusion of certain items which could prove distortive. Similar rules apply in other member states. Most UK businesses involved in trade with other member states of the EU must also submit detailed statistical returns of their exports and imports of goods.