VATupdate

FTT: Sale of shares, recovery of VAT on professional services (Hotel La Tour Ltd)

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

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