FLAT RATE SCHEME – Relevant turnover – Exempt supplies – Bank interest – whether bank interest an exempt supply – In principle: Yes – Whether bank interest constitutes a receipt arising in the course or furtherance of any business carried on by Appellant – No – VAT Act 1994 s.26B – VAT Act 1994 Schedule 9 Group 5 Items 2 and 8
[2011] UKFTT 42 (TC), [2011] SFTD 324, [2011] STI 674
Bailii
England and Wales
VAT
Updated: 16 January 2022; Ref: scu.442804