Reduction of consideration
HMRC has issued Revenue & Customs Brief 35/2014: Lok'nStore Group plc decision on calculating deductible VAT, which states that HMRC is not appealing the Upper Tribunal decision in favour of Lok’nStore Group plc’s partial exemption special method for apportioning residual input VAT o
Default surcharge and reasonable excuse
Financial services and attribution of input tax
Abusive tax planning
The Upper Tribunal was unimpressed by the taxpayer’s argument in Huddersfield University, reports Graham Elliott (Withers).
Mark Agnew and Arianne Wijdeveld (Baker & McKenzie) consider the impact that the Skandia decision will have for financial services groups in the UK.
Peter Jenkins (Peter Jenkins Associates) examines the FTT case of The Serpentine Trust Ltd v HMRC, concerning the VAT treatment of ‘donations’ made by four friends schemes to the Serpentine Gallery, which provided the donors with benefits from the gallery.
In this month’s briefing, Lee Squires and Fiona Bantock (Hogan Lovells) examine four recent and highly relevant VAT cases: Skandia America, GMAC, Bookit and Taylor Clark.