This month’s VAT review covers recent VAT cases in the FTT, Upper Tribunal and Court of Appeal. The FTT has held that arrangements very similar to those in Newey (t/a Ocean Finance) were abusive and failed the economic and commercial reality test. The Upper Tribunal has held that non-definitive advice provided by HMRC may provide a reasonable excuse for a taxpayer error. Meanwhile, the Court of Appeal has held that digital versions of newspapers did not historically fall within the UK’s zero-rating provisions. Finally, the European Commission has progressed its review of the VAT rules applicable to finance and insurance services by publishing a public consultation.
If you are not a subscriber, subscribe now to read this content.
This month’s VAT review covers recent VAT cases in the FTT, Upper Tribunal and Court of Appeal. The FTT has held that arrangements very similar to those in Newey (t/a Ocean Finance) were abusive and failed the economic and commercial reality test. The Upper Tribunal has held that non-definitive advice provided by HMRC may provide a reasonable excuse for a taxpayer error. Meanwhile, the Court of Appeal has held that digital versions of newspapers did not historically fall within the UK’s zero-rating provisions. Finally, the European Commission has progressed its review of the VAT rules applicable to finance and insurance services by publishing a public consultation.
If you are not a subscriber, subscribe now to read this content.
.tmb-editorspic.jpg?sfvrsn=df04ab27_1)
