VAT

Matthew Mortimer and Elmira Jazottes (Mayer Brown) assess the impact of recent VAT decisions and changes to the UK tax net on the taxation of receivables finance structures.

Zoe Andrews

Mike Lane

Mike Lane and Zoe Andrews (Slaughter and May) review recent developments including the latest GloBE package, Hunt on the limits of judicial correction, a timely reminder of the significant contribution made by the financial services, and the UTT implications of HMRC’s VAT guidance on fund management.

Gary Barnett

Joao Martinho

In this month’s review, Joao Martinho and Gary Barnett (Simmons & Simmons) examine two decisions on transfers of going concerns and HMRC’s recent guidance on the VAT treatment of fund management services.

Jonathan Peacock KC

Peter Williams

HMRC say paid entry prize draws are standard rated, but the VAT exemption may not follow Gambling Act classification. Jonathan Peacock KC (11 New Square) and Peter Williams (RSM UK) explain.

Peter North

Rob Sharpe

An obligation to correct tax return inaccuracies is coming. Rob Sharpe and Peter North (Cleary Gottlieb) examine the mechanics and some interpretative uncertainties.

Jo Crookshank

Gary Barnett

Jo Crookshank and Gary Barnett (Simmons & Simmons) review recent VAT developments concerning education, one-off sales, taxi services, the Capital Goods Scheme and online marketplaces.

James Morgan

Caroline Inker

Caroline Inker and James Morgan (Kirkland & Ellis) consider whether the ruling in A Oy could undermine the assumed VAT neutrality of securitisation structures.

Anastasia Nourescu

James Le Gallais

Parallel HMRC and civil proceedings are best handled not as two separate problems to be dealt with in sequence, but as a single, interconnected strategic challenge, write James Le Gallais and Anastasia Nourescu (Stewarts).

Karen Bannister

Gary Barnett

In this month’s review, Karen Bannister and Gary Barnett (Simmons & Simmons) examine developments on VAT grouping and overseas entities, securitisation servicing after loan transfers, and the uncertain boundary between single and multiple supplies.