Michael Conlon QC (Temple Tax Chambers) considers what can be learnt from the recent Court of Appeal decision.
‘April’ as T S Eliot tells us in The Waste Land ‘is the cruellest month.’
From April 1996 Mr Newey restructured his loan-broking business (Ocean Finance) to avoid irrecoverable VAT on advertising costs. In April 2010 the First-tier Tribunal (FTT) found that under the contracts the recipient of the advertising supplies was a Jersey-based company (Alabaster) and held that the scheme was not abusive. Following a reference to the European Court (CJEU) the Upper Tribunal (UT) upheld the FTT and dismissed HMRC’s appeal. Now in April 2018 after that long voyage of litigation the Court of Appeal has sent the case back to the FTT.
The court’s approach in Newey is important not only as regards its analysis of the abuse principle in...
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Michael Conlon QC (Temple Tax Chambers) considers what can be learnt from the recent Court of Appeal decision.
‘April’ as T S Eliot tells us in The Waste Land ‘is the cruellest month.’
From April 1996 Mr Newey restructured his loan-broking business (Ocean Finance) to avoid irrecoverable VAT on advertising costs. In April 2010 the First-tier Tribunal (FTT) found that under the contracts the recipient of the advertising supplies was a Jersey-based company (Alabaster) and held that the scheme was not abusive. Following a reference to the European Court (CJEU) the Upper Tribunal (UT) upheld the FTT and dismissed HMRC’s appeal. Now in April 2018 after that long voyage of litigation the Court of Appeal has sent the case back to the FTT.
The court’s approach in Newey is important not only as regards its analysis of the abuse principle in...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
