VAT on termination payments

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New policy on termination payments

New policy on termination payments

7th March 2022
HMRC is changing its policy on termination payments. As a result, some businesses will be entitled to a VAT refund while others will owe more. What’s the full story? VAT expert John Craig takes a closer look. In September 2020, HMRC changed its policy on one-off payments made in connection with a contract, e.g. early...