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"
- UK Supreme Court Rules VAT Applicable on Success Fees After Exit from VAT Group
- JPMorgan Chase Bank NA v HMRC: VAT Dispute on Intra-group Service Taxability, Appeal Dismissed
- UK Considers VAT Cut on Domestic Fuel: Targeted Relief or Broad Measure?
- Supreme Court Clarifies VAT Grouping and Time of Supply Rules in Prudential Assurance Case
- Guernsey Seeks Companies to Support New GST Administration, Tender Deadline Approaches
