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Payment made towards the development of an indoor sports centre was consideration for a taxable leasehold interest for VAT purposes (Polo Farm Sports Club v HMRC)

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Published on: 03 November 2021

Published by a LexisNexis Tax expert

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Tax analysis: In Polo Farm Sports Club v HMRC, the First-tier Tax Tribunal (FTT) determined that the funds received by Polo Farm Sports Club (PFSC) from Canterbury Christ Church University (CCCU), in respect of the development of a new indoor sports centre, prior to entering into a counterpart lease with PFSC, constituted consideration for the grant of a leasehold interest in the development, and was therefore standard rated.

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