This month’s review covers the AG opinion in the long-running Wellcome Trust case concerning the VAT consequences of investment management services received by the trustee of a charitable trust for the management of its investment portfolio. There is also an important CJEU decision in a German case, HF v Finanzamt Bad Neuenahr-Ahrweiler, concerning VAT adjustments following a change in use of premises. The EU Commission has published its tax package which includes a number of VAT related elements, perhaps most notably a return to the proposal to modernise and simplify the VAT rules for financial services. Finally, HMRC continues to offer administrative easements for businesses affected by the pandemic, further extending the deadline for notifications of options to tax.
