HMRC updates VAT treatment of early termination fees and compensation payments

Published on: 26 January 2021

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Specialist Tax Regulatory Materials

Article summary

HMRC has announced that it is revising Revenue and Customs Brief 12 (2020), on the VAT treatment of early termination fees and compensation payments, and that the updated VAT treatment set out in the Brief will apply from a future date. Brief 12 (2020) was published in September 2020 and at that time was stated to apply retrospectively. The revised guidance is expected shortly.

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

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