VATupdate

Hotel granted the luxury of VAT recovery on a sale of shares to raise funds

Businesses involved in mergers and acquisitions are accustomed to jumping through the necessary hoops to confirm that they are entitled to recover VAT on the costs of acquiring a new subsidiary. However, a recent tribunal appeal has looked at a corporate finance transaction from the seller’s point of view, considering whether a holding company was eligible to reclaim VAT incurred in the course of selling the shares of a subsidiary company to a new owner.

Source RSM

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