UK HMRC has published a policy paper (brief) on a change to partial exemption VAT treatment, which advises businesses who supply goods by way of hire purchase agreements of HMRC’s suggested method for apportionment of VAT incurred on overheads following the Court of Justice of the European Union (CJEU) judgment C-153/17 Volkswagen Financial Services (UK) Ltd (VWFS). The Isle of Man Treasury has also issued a release on the change in treatment. --- Background VWFS, a finance house, provided credit to customers who wanted to purchase a vehicle. It operated by purchasing the car from the dealer at the same...