Has the First-tier Tribunal (FTT) opened the door to a string of claims to recover VAT? The FTT allowed the appeal by the University of Cambridge after HMRC had refused its claim for a proportion of the input tax incurred on the management of the university’s endowment fund. As a result, other educational establishments or indeed any businesses, charities or VAT registered organisations which manage their investments for the benefit of their wider activities should consider making claims of previously unrecovered input tax on related costs.
