Peter Jenkins (Peter Jenkins Associates) examines the FTT case of The Serpentine Trust Ltd v HMRC, concerning the VAT treatment of ‘donations’ made by four friends schemes to the Serpentine Gallery, which provided the donors with benefits from the gallery.
The recent case of The Serpentine Trust Ltd v HMRC [2014] UKFTT 876 (TC) concerned the correct VAT treatment of ‘donations’ under friends schemes operated by the Serpentine Trust Ltd in periods 03/09 to 06/12 to support the activities of the Serpentine Gallery in Kensington. Of the five schemes only four were in issue in the appeal. In the case of the Council scheme (the most expensive) HMRC had ruled in 2003 that only £3 000 of the total payment of £50...
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")