Lee Squires and Fiona Bantock review the impact of recent case law including the decisions in BAA Ltd (VAT recovery on corporate deal costs), Birmingham Hippodrome (HMRC’s set-off powers) and Abdul Noor (FTT's public law jurisdiction).
VAT recovery on corporate deal costs: BAAThe Court of Appeal has given judgment in BAA Ltd v HMRC [2013] EWCA Civ 112 concerning the entitlement of ADIL a special purpose vehicle set up to make a take-over bid for BAA PLC to recover £6.7m of VAT incurred on fees from its professional advisers in relation to the take-over. ADIL joined BAA’s VAT group after the take-over which tried to recover the VAT paid on the deal costs...
