- UTT decision allows businesses to recover VAT on costs of share sale in certain circumstances
- HLT sold shares in subsidiary company to fund new hotel development
- HLT sought to recover input VAT on professional services, HMRC denied recovery
- FTT ruled in favor of HLT, allowing recovery of input VAT
- HMRC argued input VAT was attributable to exempt sale of shares, FTT disagreed
- FTT found direct link between professional services and downstream taxable activities
Source: haysmacintyre.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "United Kingdom"
- The UK Should Lower or Abolish, Not Raise, Its VAT Registration Threshold
- UK Should Lower or Abolish VAT Threshold to Boost Small Business Growth and Efficiency
- Lowering VAT Threshold Risks Breaching Labour’s Manifesto, Warns Self-Employed Association
- UK VAT Threshold Debate: Growth-Boosting Increase or Revenue-Raising Decrease at Autumn Budget?
- Chancellor Proposes Raising VAT Registration Threshold to £100,000 to Boost UK Economy
