Two recent CJEU decisions on the deemed supply rules concerning donated goods and the VAT status of vouchers, as well as the Court of Appeal’s decision in Hotel La Tour, are among the developments included in this month’s review by Jo Crookshank and Gary Barnett (Simmons & Simmons).
Input VAT on share sales
The Court of Appeal (CA) decision in HMRC v Hotel La Tour Ltd [2024] EWCA Civ 564 is an important one on the recoverability of input VAT incurred in connection with share sales. In overturning the decision of the Upper Tribunal (UT) the CA has rejected the argument that there is a different test in fundraising scenarios that nuances the normal ‘direct and immediate’ test for input VAT recovery.
The CA’s conclusion is that the ‘direct and immediate’ test originally set out in BLP (Case C-4/94) remains the fundamental starting point and while there has...
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Two recent CJEU decisions on the deemed supply rules concerning donated goods and the VAT status of vouchers, as well as the Court of Appeal’s decision in Hotel La Tour, are among the developments included in this month’s review by Jo Crookshank and Gary Barnett (Simmons & Simmons).
Input VAT on share sales
The Court of Appeal (CA) decision in HMRC v Hotel La Tour Ltd [2024] EWCA Civ 564 is an important one on the recoverability of input VAT incurred in connection with share sales. In overturning the decision of the Upper Tribunal (UT) the CA has rejected the argument that there is a different test in fundraising scenarios that nuances the normal ‘direct and immediate’ test for input VAT recovery.
The CA’s conclusion is that the ‘direct and immediate’ test originally set out in BLP (Case C-4/94) remains the fundamental starting point and while there has...
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:
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