Peter Jenkins Global Director of Indirect Tax at Ernst & Young considers the implications of the High Court Judgment in MBNA Europe Bank Ltd [2006] EWHC 2326 (CH) released on 22 September 2006
Two broadly similar appeals were heard by the Manchester VAT and Duties Tribunal in 2005 concerning the correct VAT treatment of securitisation programmes undertaken by credit card issuing banks the first being Capital One Bank (Europe) v HMRC (COBE) 19238 and the other being MBNA Europe Bank Ltd v HMRC MAN/03/0523 which was issued in its final form on 3 March 2006. In the event COBE decided not to appeal against the adverse aspects of the Tribunal's decision to the High Court and presumably reached a settlement with HMRC but...
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Peter Jenkins Global Director of Indirect Tax at Ernst & Young considers the implications of the High Court Judgment in MBNA Europe Bank Ltd [2006] EWHC 2326 (CH) released on 22 September 2006
Two broadly similar appeals were heard by the Manchester VAT and Duties Tribunal in 2005 concerning the correct VAT treatment of securitisation programmes undertaken by credit card issuing banks the first being Capital One Bank (Europe) v HMRC (COBE) 19238 and the other being MBNA Europe Bank Ltd v HMRC MAN/03/0523 which was issued in its final form on 3 March 2006. In the event COBE decided not to appeal against the adverse aspects of the Tribunal's decision to the High Court and presumably reached a settlement with HMRC but...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
