HMRC’s VAT appeal update has confirmed that this case will be heard in June 2025. For background, the taxpayer was a holding company and decided to dispose of a 100% owned subsidiary by way of an exempt share sale to finance the development of a new hotel that would generate taxable income. The original FTT supported the taxpayer’s argument that there was a direct and immediate link between the VAT on the professional fees and the downstream taxable services and the VAT was not a cost component of the exempt supply. HMRC’s appeal was dismissed at the UT but the decision was overturned at the CoA. To access the earlier CoA judgment, click here.
Source KPMG
Click HERE for all other Newsletters on ”Hotel La Tour” Court case
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
