VAT – fundraising transactions – whether or not there was a direct and immediate link to
downstream taxable activities – yes – whether or not VAT grouping means that there was no
economic activity for the purposes of the initial transaction – no – whether or not the share
purchase agreement was the equivalent of a transfer of a going concern – no – appeal allowed
upon the basis of the direct and immediate link to downstream taxable activities
Source: gov.uk
Latest Posts in "United Kingdom"
- Supreme Court Decision Mandates Prudential to Pay VAT on £9.3 Million Success Fees
- UK Supreme Court Rules on VAT Grouping and Time of Supply in Prudential Case
- High Court Rules in Favor of Hotelbeds UK on Input Tax Recovery Without VAT Invoices
- HMRC Updates Notice 700/45: Correcting VAT Errors, Claims, and Penalties Guidance Revised
- HMRC Updates VAT Notice 700/45: New Guidelines for Correcting Errors and Claiming Refunds
