PART XIVINPUT TAX AND PARTIAL EXEMPTION
I1F2106
1
F3Where regulation 105A does not apply then, subject to regulations 106A and 106ZA(1), where relevant input tax—
a
in any prescribed accounting period, or
b
in the case of a longer period, taken together with the amount of any adjustment in respect of that period under regulation 107B—
i
does not amount to more than £625 per month on average, and
ii
does not exceed one half of all his input tax for the period concerned,
all such input tax in that period shall be treated as attributable to taxable supplies.
2
In the application of paragraph (1) above to a longer period—
a
any treatment of relevant input tax as attributable to taxable supplies in any prescribed accounting period shall be disregarded, and
b
no account shall be taken of any amount or amounts which may be deductible or payable under regulation 115.
3
For the purposes of this regulation, relevant input tax is input tax attributed under regulations 101, 102, 103, 103A F1, 103B and, where the case arises, regulation 107, to exempt supplies or to supplies outside the United Kingdom which would be exempt if made in the United Kingdom (not being supplies specified in an Order made under section 26(2)(c) of the Act).