Legal News

No VAT recovery under tripartite contract (Airtours v HMRC)

Published on: 11 May 2016
Published by: LexisPSL
  • No VAT recovery under tripartite contract (Airtours v HMRC)
  • Original news
  • What was this case about?
  • What did the Supreme Court decide?
  • The contract
  • Redrow
  • Dissenting judgments
  • Outcome
  • What should tax lawyers take note of?

Article summary

Tax analysis: The Supreme Court has held, by a 3:2 majority, that a company paying accountancy fees under a tripartite contract was not entitled to recover the VAT on those fees as its own input tax. The fees were for a report designed to convince the company’s creditors of the viability of a refinancing plan, but the Supreme Court decided that the accountancy services were supplied to the creditors rather than to the taxpayer. or take a trial to read the full analysis.

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