HMRC concedes favourable VAT treatment for investment trusts | Practical Law

HMRC concedes favourable VAT treatment for investment trusts | Practical Law

In June 2007, the ECJ held in JP Morgan Fleming Claverhouse Investment Trust plc v HMRC (Case C-363/05) that management fees charged to UK investment trusts should be exempt from VAT. Following this decision, HMRC has now decided not to pursue its case against the taxpayer in the UK VAT and Duties Tribunal.

HMRC concedes favourable VAT treatment for investment trusts

Practical Law UK Legal Update 7-378-8899 (Approx. 4 pages)

HMRC concedes favourable VAT treatment for investment trusts

by PLC Tax
Law stated as at 05 Nov 2007England, Wales
In June 2007, the ECJ held in JP Morgan Fleming Claverhouse Investment Trust plc v HMRC (Case C-363/05) that management fees charged to UK investment trusts should be exempt from VAT. Following this decision, HMRC has now decided not to pursue its case against the taxpayer in the UK VAT and Duties Tribunal.