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VAT briefing for July 2014

Speed read

Recent VAT developments that matter are as follows: in Sub One Ltd (t/a Subway), the Court of Appeal discussed the VAT treatment of hot takeaway food in the context of the principle of fiscal neutrality. In Granton Advertising, the CJEU held that the sale of a card entitling the holder to discounts from various retailers did not constitute an exempt transaction in ‘other securities’ or ‘other negotiable instruments’. The EU VAT Committee has published guidance on the exemption for small consignments; the High Level Expert Group on Taxation of the Digital Economy has, however, recommended the exemption’s abolition. New UK secondary legislation has been made on electronic filing and the reverse charge for wholesale gas and electricity.

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