Are costs with VAT directly related to investment (exempt) activities, or should a broader approach apply?
The point at issue was whether the VAT incurred on both the set-up costs of the structure (including the costs of attracting investors) and the operating costs of running the business (including fund operator costs and due diligence expenses on reviewing new investments) was fully deductible by the Taxpayer as input tax.
Source: lexology.com
Latest Posts in "United Kingdom"
- Isle of Wight NHS Trust vs HMRC: VAT Exemption Dispute on Locum Medical Practitioners
- HMRC Guidance: How to correct VAT errors and make adjustments or claims (VAT Notice 700/45)
- 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
