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HMRC internal manual

VAT Small and Medium Enterprises Assurance Manual

Post Audit Action: option to tax records

  • make an note on EF of all the held properties, their “opted” status, Capital Goods Scheme details, and current usage as part of the EF Summary screen;
  • update any existing list, for new options to tax, disposals and change of use;
  • arrange to have GRID/Diamond updated, where necessary; and
  • for any properties sold as TOGC, check GRID to ensure the purchaser waived exemption (opted to tax) by the date of transfer. Send a reference to the purchaser’s Risk team with the appropriate priority rating when there is doubt, or where the new owner will be responsible for continuing the CGS adjustments.