VAT yield on fuel
19th July 1974, Page 18
19th July 1974
Page 18
Page 18, 19th July 1974
— VAT yield on fuel
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HM Customs and Excise have decided that where VAT-registered firms pay mileage allowances to employees using company vehicles, the "VAT fraction" -one-eleventh of the allowance for fuel — will be allowable as an input tax.