Lee Squires and Fiona Bantock (Hogan Lovells) provide your monthly review of the VAT developments that matter.
Airtours: VAT recovery under tripartite arrangements
In Airtours Holidays Transport Ltd v HMRC [2016] UKSC 21 (reported in Tax Journal 20 May 2016) the Supreme Court (SC) dismissed Airtours’ appeal and found by a 3 to 2 majority that Airtours was not entitled to deduct VAT on fees it paid for services supplied to a third party.
Airtours had commissioned PwC to produce a report to around 80 financial institutions on Airtours’ restructuring proposals. The letter appointing PwC which was addressed to the institutions stated that PwC was retained by the institutions and that the report was for their sole use. PwC owed Airtours no duty of care and Airtours was only entitled to copies of...
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Lee Squires and Fiona Bantock (Hogan Lovells) provide your monthly review of the VAT developments that matter.
Airtours: VAT recovery under tripartite arrangements
In Airtours Holidays Transport Ltd v HMRC [2016] UKSC 21 (reported in Tax Journal 20 May 2016) the Supreme Court (SC) dismissed Airtours’ appeal and found by a 3 to 2 majority that Airtours was not entitled to deduct VAT on fees it paid for services supplied to a third party.
Airtours had commissioned PwC to produce a report to around 80 financial institutions on Airtours’ restructuring proposals. The letter appointing PwC which was addressed to the institutions stated that PwC was retained by the institutions and that the report was for their sole use. PwC owed Airtours no duty of care and Airtours was only entitled to copies of...
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:
