As this article is being finalised the UK has voted to leave the European Union. In due course this is likely to have a profound impact on the UK’s VAT system. We will no doubt return to this topic in future VAT briefings.
Balhousie Holdings: sale and leaseback
In Balhousie Holdings Ltd v HMRC [2016] UKFTT 377 (TC) (reported in Tax Journal 17 June 2016) Balhousie Holdings (BH) operated care homes in the north east of Scotland and formed a VAT group with its subsidiaries excluding Faskally Care Home Limited (FC). As an alternative to bank lending BH entered into a sale and leaseback of three of its properties with a real estate investment trust. One of these properties was a newly completed care home previously owned by FC. On sale...
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As this article is being finalised the UK has voted to leave the European Union. In due course this is likely to have a profound impact on the UK’s VAT system. We will no doubt return to this topic in future VAT briefings.
Balhousie Holdings: sale and leaseback
In Balhousie Holdings Ltd v HMRC [2016] UKFTT 377 (TC) (reported in Tax Journal 17 June 2016) Balhousie Holdings (BH) operated care homes in the north east of Scotland and formed a VAT group with its subsidiaries excluding Faskally Care Home Limited (FC). As an alternative to bank lending BH entered into a sale and leaseback of three of its properties with a real estate investment trust. One of these properties was a newly completed care home previously owned by FC. On sale...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
