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Winterthur 1 Revisited

John Hayward of Carr Sheppards Crosthwaite reflects on the latest consultative document from Customs & Excise on pension fund management and VAT

 
John Hayward of Carr Sheppards Crosthwaite reflects on the latest consultative document from Customs & Excise on pension fund management and VAT
 
When the chairman of a VAT Tribunal about five years ago enunciated some very unexpected obiter dicta following his decision in favour of Winterthur in Winterthur Life (UK) Ltd (LON/96/1787) (Winterthur 1) — see 'You Win Some You Lose Some' in Issue No: 504 14 June 1999 — he was I felt nonetheless expecting the pensions industry to exercise its collective brains and extend the VAT boundaries in some grey and not so grey areas so far as pension scheme...

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