Matthew Wentworth-May explains how to spot the relevant VAT issues and what the impact is on the drafting of the contract.
The following article and supporting documentation was written by Lexis PSL Tax in partnership with Matthew Wentworth-May a barrister (senior associate) at Olswang LLP.
This article sets out a sensible approach to reviewing a commercial contract (such as an intellectual property licence agreement) for VAT purposes.
It does not seek to deal with reviewing contracts for:
Conducting a proper review of any commercial contract for VAT purposes has two essential stages:
