The FTT considered entitlement to input tax recovery for supplies made by an associated company that had not paid the output tax, and refused the claim.
The parent company charged the appellant company management fees that were subject to VAT at the standard rate. The parent company failed to account for the VAT, which was claimed by the appellant company as input tax. After less than a year of operation, the parent company went into liquidation.
Source Smith and Williamson
Latest Posts in "United Kingdom"
- Understanding VAT: How It Works, Its Impact, and Options for Reform in the UK
- UK Tribunal Rules Locum Doctor Supplies via Agencies Are VAT Exempt for NHS Trusts
- VAT Rules for Workwear, Uniforms, and Staff Clothing: What Businesses Need to Know
- Understanding E-Invoicing: Benefits, Challenges, and the Future for UK Businesses and Government
- How Overseas Businesses Can Reclaim UK VAT: Eligibility, Deadlines, and Key Conditions
