In HMRC v Hotel La Tour Ltd [2023] UKUT 178, the Upper Tribunal (UT) agreed with the First Tier Tribunal (FTT) that Input VAT can be reclaimed on professional services fees incurred during a share sale, where the ultimate economic purpose was fundraising.
- Hotel La Tour Ltd (HLT) owned a 100% subsidiary Hotel La Tour Birmingham (HLTB), which owned and operated a luxury hotel.
- HLT provided Management services to HLTB and both formed a VAT group.
Source: www.rossmartin.co.uk
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