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.
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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 or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
