The Supreme Court has granted leave to appeal to both the taxpayers and HMRC in the case of Investment Trust Companies v HMRC involving a VAT restitution claim where investment trusts are seeking VAT refunds from HMRC that were wrongly charged by the managers of the trusts.
The European Commission is part way through overhauling how it taxes the consumption of goods and services. More needs to be done, writes Leigh Clark (Alvarez & Marsal Taxand UK).
Lee Squires and Fiona Bantock (Hogan Lovells) review the VAT developments that matter.
Richard Insole and Judith Lesar (Deloitte) review the Mapfre case, which clarifies the term ‘insurance’ for VAT purposes but raises questions about the treatment of certain warranty contracts.
An Upper Tribunal decision brings some long awaited legal certainty to what is meant by a ‘transfer of a going concern’ (TOGC) for VAT purposes, writes Peter Mason.
Following the Upper Tribunal decision in Colaingrove, Revenue and Customs Brief 12/2015 explains that HMRC accepts that verandas and decking structures sold with static caravans are to be treated as a single supply for VAT purposes.
HMRC has confirmed in Revenue and Customs Brief 12/2015 any changes to take account of the recent finding that the reduced rate in UK for installing energy saving materials violated EU law won’t be implemented before Finance Act 2016.
Hire purchase companies and the attribution of input tax
Abusive arrangements