VAT recovery on professional fees relating to raising funds for a business has been a much-debated topic over the years. There are many ways in which a business can raise funds, from raising business loans to selling assets, which could include shares in subsidiaries. There have been numerous cases taken to the VAT Courts on the VAT recovery of costs associated with this topic. A recent case heard at the First Tier Tax Tribunal has addressed the question of whether VAT on the costs of selling shares in a subsidiary to fund future development of the business elsewhere is recoverable.
Source BDO
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