Policy paper
Revenue and Customs Brief 2 (2022): VAT early termination fees and compensation payments
This brief introduces a revised policy on VAT early termination payments and compensation payments and replaces Revenue and Customs Brief 12 (2020).
Documents
Details
The brief explains that HMRC is introducing a revised policy on early termination payments and compensation payments. The brief:
- replaces Revenue and Customs Brief 12 (2020): VAT early termination fees and compensation payments
- gives an update on the VAT treatment of early termination, compensation and similar payments
- advises businesses that adopted the treatment outlined in Brief 12 (2020) on what action they should take