Are costs with VAT directly related to investment (exempt) activities, or should a broader approach apply?
The point at issue was whether the VAT incurred on both the set-up costs of the structure (including the costs of attracting investors) and the operating costs of running the business (including fund operator costs and due diligence expenses on reviewing new investments) was fully deductible by the Taxpayer as input tax.
Source: lexology.com
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
