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Loan administration services were not transactions concerning payments or transfers (Target Group Ltd v HMRC)

Loan administration services were not transactions concerning payments or transfers (Target Group Ltd v HMRC)
Published on: 20 November 2019
Published by: LexisPSL
  • Loan administration services were not transactions concerning payments or transfers (Target Group Ltd v HMRC)
  • What are the practical implications of this case?
  • What was the background?
  • What did the court decide?
  • Case details

Article summary

Tax analysis: In Target Group Ltd v HMRC, the Upper Tribunal (UT) held that loan administration services were not transactions concerning payments or transfers within item 1 of group 5 to schedule 9 of the Value Added Tax Act 1994 (VATA 1994). The loan accounts operated by Target Group Ltd (Target) were not current accounts. The services were standard rated and the appeal was dismissed. or take a trial to read the full analysis.

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