PN/59/93 VAT recovery by holding companies

Part V16 Forms and other HMRC material

PN/59/93 VAT recovery by holding companies

PN/59/93 VAT recovery by holding companies

Press Notice 59/93.10 September 1993

In the light of business responses to a Customs and Excise consultative paper, only minor changes will be made from 1 October to the treatment of VAT on costs incurred by holding companies.

The position of the vast majority of holding companies with active trading subsidiaries will remain unchanged.

General approach for the future

Customs will continue to keep the VAT recovery by holding companies under review and will be monitoring developments in Europe, particularly emerging case law from the European Court of Justice.

They accept that any wider changes in the VAT treatment of holding companies would only occur as the result of the adoption of a uniform approach by all member states. If EC proposals on this subject were to be brought forward at any time in the future, Customs

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