A Supreme Court ruling means that organisations like care homes that have used leaseback arrangements will not be subject to retrospective VAT charges and could now save millions of pounds say leading tax and advisory firm, Blick Rothenberg. The case concerned the application of clawback provisions that apply where the construction or purchase of a new building is made on a zero-rated basis, and the building is later disposed of within the first 10 years of life.
Sources:
Latest Posts in "United Kingdom"
- VAT on Hampers: Lidded Wicker Baskets Ancillary to Food and Drink, Not Separate Supply
- Report: UK VAT Rules Favor Demolition Over Building Reuse, Urges Tax Reform for Sustainability
- Is the UK a Tax-Efficient Cruising Base? Navigating VAT and Temporary Admission for Yachts
- One in Three Large UK Firms Face Record VAT Investigations as HMRC Cracks Down
- Tribunal Rules Hampers’ Lidded Baskets Share VAT Treatment with Food and Drink Items
