The Supreme Court decision in Frank Smart ought to have clarified that mere receipt of grants that are outside the scope of VAT does not imply any reduction in the input tax recoverable by a trader, as long as the activity generates taxable supplies. Yet HMRC seeks other cases to find gaps in the application of Frank Smart.
Source charitytaxgroup
Latest Posts in "United Kingdom"
- VAT Recovery Falls Despite Increased Crackdown on Business Tax Avoidance, HMRC Figures Show
- VAT Late Filing Penalties: Software Failure and Employee Error Not Reasonable Excuse, Appeal Dismissed
- Corrupt Directors Jailed for £20m VAT Fraud After Secret Meetings and Fake Offshore Schemes
- Input VAT Denied: Insufficient Evidence and Pre-Registration Supplies—SM Development North West Ltd Appeal Dismissed
- HMRC Cannot Deny Input VAT Recovery Where Valid Invoice Exists: Eurocent (Buckingham) Ltd v HMRC
