Management Information Sheet

Please see the main changes to the 2014 VAT Manual:

1.3 Calculating VAT

• Any reference to calculations using the 'old' VAT rate of 17.5% have been removed

1.4 Record keeping

• An example has been added to the section to bring the guidance in line with the authorities main VAT manual.
• In addition, the guidance now contains a link to the authorities main guidance on minimum retention periods.

1.6.2 VAT registration of unofficial funds

• The VAT registration limit has been updated to reflect that in the current financial year

1.7 Foundation schools/VA schools/Academies

• The VA schools guidance has been updated to include a link to the revised guidance issued by HMRC earlier this year that has been placed on the schools website & the previous 'Blue Book' guidance removed.

2.1 Expenditure - goods & services received (input tax)

• Wording generally updated to bring the guidance in line with the authorities main VAT manual

2.1.4 Exports & VAT

• New sub-section added

2.2.1 Retail purchases under £250

• Sub-section moved from 'Expenditure - goods & services received (input tax)
• Amendment made in relation to supplies less than £25.00 (envisage now made to the £25.00 limit)

2.3 "Composite" or non-standard rates of VAT

• Any reference to calculations using the 'old' VAT rate of 17.5% have been removed

3.2.6 Catering - VAT definitions

• Duplicate wording in respect of taxable goods has been removed. Taxable goods are reflected in 3.2.5.

3.5 Sale of school uniforms & sweatshirts

• Area has generally been updated to reflect more thorough guidance. This area was queried within the VAT training on more than one occasion during the year by the schools. Still a general guide but should now give a little bit more guidance.

3.8.1 Letting of non-sports facilities

• Note 2 has been updated in accordance with changes HMRC have made to catering facilities during the year

Appendix 1

• Wording generally updated to bring the guidance in line with the authorities main VAT manual

Appendix 3A

• The VAT category of 'Fruitshoot' has been corrected to standard-rated