Vinny McCullagh (Grant Thornton) reviews a tribunal’s interpretation of the anti-avoidance provisions of VATA 1994 Sch 10.
From a technical perspective it probably doesn’t get any more difficult than this. Here we have a property acquisition and conversion an option to tax a potential capital goods scheme item connected parties the use of part of the building for a VAT exempt activity and the hideously complicated option to tax disapplication rules. As single issues each of the above can be fraught with complexity; however put them all in the mix and you are left with something akin to a CIOT exam question. Throw in the European concept of abuse of rights for good measure and you have won the jackpot!
These issues were aired in a recent case at the First-tier Tribunal Water Property...
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Vinny McCullagh (Grant Thornton) reviews a tribunal’s interpretation of the anti-avoidance provisions of VATA 1994 Sch 10.
From a technical perspective it probably doesn’t get any more difficult than this. Here we have a property acquisition and conversion an option to tax a potential capital goods scheme item connected parties the use of part of the building for a VAT exempt activity and the hideously complicated option to tax disapplication rules. As single issues each of the above can be fraught with complexity; however put them all in the mix and you are left with something akin to a CIOT exam question. Throw in the European concept of abuse of rights for good measure and you have won the jackpot!
These issues were aired in a recent case at the First-tier Tribunal Water Property...
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:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")