The UT decision in University of Cambridge was a welcome one for partially exempt bodies with similar types of investment funds that derive income or capital for their overall economic benefit, report Nicholas Gardner and Shayaan Zaraq Bari (Ashurst).
Nick Skerrett (Simmons & Simmons) comments on a largely overlooked VAT development coming out of last week’s Budget, concerning the restriction on attributing input VAT to overseas branches.
While the Court of Appeal recently denied VAT recovery on costs associated with corporate restructuring and/or refinancing deals, it may be that the specific facts of BAA and Airtours mean the impact of these decisions can be contained. Judith Lesar and David Anderson (PwC Legal) examine both cases.
David Anderson reports on Taylor Wimpey
Graham Elliott considers Zipvit and claiming VAT where the supplier has not charged it
Peter Jenkins considers the development of a new threat to input tax recovery by partly exempt businesses receiving subsidies
Geoffrey Tack and Bridget Winters examine the Birmingham Hippodrome Theatre Trust decision and the power of HMRC to set off taxes across multiple accounting periods
Lee Squires and Fiona Bantock assess recent developments, including the decisions in AN Checker , Pactor Vastgoed and Granton Advertising, plus the consul tation on the VAT treatment of public bodies and the E U standard VAT declaration.
Following the recent decision in Pactor Vastgoed on the Dutch option to tax, Gary Richards and Alan Sinyor analyse the possible implication for the UK system, especially for those taxpayers who accounted for VAT under the capital goods scheme following the purchase of a property as a TOGC.