- Hotel La Tour Ltd (HLT) sought to recover VAT on costs related to a share sale used to fund a new hotel.
- HMRC denied VAT recovery, arguing the costs related to an exempt share sale.
- The Supreme Court upheld HMRC’s position, ruling the costs were directly linked to the exempt share sale, not the overall business.
- The Court rejected arguments based on recent CJEU case law and the purpose of the transaction.
- HLT’s appeal was dismissed, confirming VAT was not deductible on these costs.
Source: taxscape.deloitte.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"
- UK Supreme Court Rules VAT on Share Sale Fees Not Recoverable for Business Funding
- HMRC Updates VAT Exemption for Temporary Medical Staff After Isle of Wight Tribunal Decision
- UK Eases VAT Grouping Rules to Attract Foreign Investment and Simplify Cross-Border Compliance
- Tribunal Rules Bespoke Autobiography Books by Story Terrace Qualify for VAT Zero-Rating
- Full VAT Recovery Allowed on Product Photography Costs in Littlewoods v HMRC Tribunal Decision
