Nick Cronkshaw and Gary Barnett (Simmons & Simmons) provide your monthly review of the VAT developments that matter.
Most of the VAT developments covered in this issue of VAT briefing are forward looking. In addition to those covered in more detail below HMRC is also carrying out an informal consultation on changes to the VAT treatment of fund management to bring it into line with EU law. It appears that HMRC has recognised the need to update the provisions of VATA 1994 for the decisions in ATP PensionService (Case C-464/12) (concerning defined benefit pension schemes) and Fiscale Eenheid X (Case C-595/13) (concerning property funds). At present taxpayers must rely on the direct effect of the EU VAT provisions to benefit from exemption in appropriate cases.
Another future development to watch out for will be the CJEU decision in MEO Servicos de Comunicacoes e Multimedia case (Case C-295/17). The AG...
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Nick Cronkshaw and Gary Barnett (Simmons & Simmons) provide your monthly review of the VAT developments that matter.
Most of the VAT developments covered in this issue of VAT briefing are forward looking. In addition to those covered in more detail below HMRC is also carrying out an informal consultation on changes to the VAT treatment of fund management to bring it into line with EU law. It appears that HMRC has recognised the need to update the provisions of VATA 1994 for the decisions in ATP PensionService (Case C-464/12) (concerning defined benefit pension schemes) and Fiscale Eenheid X (Case C-595/13) (concerning property funds). At present taxpayers must rely on the direct effect of the EU VAT provisions to benefit from exemption in appropriate cases.
Another future development to watch out for will be the CJEU decision in MEO Servicos de Comunicacoes e Multimedia case (Case C-295/17). The AG...
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:
