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VAT briefing for November 2018

Speed read

In Volkswagen Financial Services the CJEU has rejected the AG’s suggestion that supplies of hire purchase should be treated as a single taxable transaction whilst holding that the fact that the supplier does not apply a mark-up to the supply of goods does not prevent residual input VAT being attributed to both the supply of finance and of goods. In Dixons Carphone the consideration for supplies of goods by a store was not reduced by the amount of a ‘subsidy’ allowed by the store to the provider of retail finance to customers. In Virgin Media rules on prompt payment discounts were not engaged where the provider offered a separate annual saver option. In Ryanair an acquirer intending to provide management services to a target company is entitled to deduct input VAT on the acquisition costs even where that acquisition is aborted. Finally in Morgan...

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