This month’s VAT review covers the Scottish case of Ventgrove v Kuehne + Nagel on the correct VAT treatment of break fees and the scope of legitimate expectation. There are also two decisions in the financial services sphere. The FTT in eMerchantPay Ltd has held that intermediation services in relation to credit card payment services wholly sub-contracted to an affiliate themselves qualified for the intermediation exemption in VATA 1994 Sch 9 Group 5 item 5. In O. Fundusz lnwestycyjny Zamknięty reprezentowany przez O, the CJEU held that the supply made by a sub-participator under a sub-participation agreement with the originator of a loan falls within the VAT exemption for the grant of credit.
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This month’s VAT review covers the Scottish case of Ventgrove v Kuehne + Nagel on the correct VAT treatment of break fees and the scope of legitimate expectation. There are also two decisions in the financial services sphere. The FTT in eMerchantPay Ltd has held that intermediation services in relation to credit card payment services wholly sub-contracted to an affiliate themselves qualified for the intermediation exemption in VATA 1994 Sch 9 Group 5 item 5. In O. Fundusz lnwestycyjny Zamknięty reprezentowany przez O, the CJEU held that the supply made by a sub-participator under a sub-participation agreement with the originator of a loan falls within the VAT exemption for the grant of credit.
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