An accountancy firm advised a group of companies to enter into a complex scheme with the intention of only accounting for VAT on its profit on ‘demonstrator cars’ rather than on their full sale price. Four associated ‘dealership’ companies sold various ‘demonstrator cars’ to three associated ‘captive leasing companies’ under leaseback arrangements.
The ‘captive leasing companies’ assigned the benefit of the lease agreements and the underlying...
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An accountancy firm advised a group of companies to enter into a complex scheme with the intention of only accounting for VAT on its profit on ‘demonstrator cars’ rather than on their full sale price. Four associated ‘dealership’ companies sold various ‘demonstrator cars’ to three associated ‘captive leasing companies’ under leaseback arrangements.
The ‘captive leasing companies’ assigned the benefit of the lease agreements and the underlying...
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