VAT groups: enactment of ESC 3.2.2 | Practical Law

VAT groups: enactment of ESC 3.2.2 | Practical Law

On 6 December 2011, HMRC and HM Treasury published draft legislation, for inclusion in the Finance Bill 2012, to replace extra-statutory concession 3.2.2 (ESC 3.2.2). The concession allows VAT reverse charges to be based on the cost of services purchased by group members established overseas and prevents excessive charges arising.

VAT groups: enactment of ESC 3.2.2

Practical Law UK Legal Update 9-515-8670 (Approx. 3 pages)

VAT groups: enactment of ESC 3.2.2

by PLC Tax
Published on 08 Dec 2011
On 6 December 2011, HMRC and HM Treasury published draft legislation, for inclusion in the Finance Bill 2012, to replace extra-statutory concession 3.2.2 (ESC 3.2.2). The concession allows VAT reverse charges to be based on the cost of services purchased by group members established overseas and prevents excessive charges arising.