Maximising recovery of VAT on deal fees requires careful practical structuring around the specific facts and real substance behind the legal documentation, writes Jonny Squires (Osborne Clarke).
VAT costs on corporate acquisitions can be significant especially those that involve multiple teams of advisers. Once legal financial and (the all-important) tax fees are added into the mix that extra 20% VAT adds up so VAT recovery is an important consideration. This area is well-trodden but practical oversights can lead to VAT recovery being denied effectively increasing deal costs.
This article revisits the legal principles underpinning the recovery of VAT on deal fees focusing on acquisitions by newly incorporated companies (Newcos) or established holding...
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Maximising recovery of VAT on deal fees requires careful practical structuring around the specific facts and real substance behind the legal documentation, writes Jonny Squires (Osborne Clarke).
VAT costs on corporate acquisitions can be significant especially those that involve multiple teams of advisers. Once legal financial and (the all-important) tax fees are added into the mix that extra 20% VAT adds up so VAT recovery is an important consideration. This area is well-trodden but practical oversights can lead to VAT recovery being denied effectively increasing deal costs.
This article revisits the legal principles underpinning the recovery of VAT on deal fees focusing on acquisitions by newly incorporated companies (Newcos) or established holding...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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