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HM Revenue and Customs v Volkswagen Financial Services (UK) Ltd; UTTC 12 Nov 2012

References: [2012] UKUT 394 (TCC)
Links: Bailii
UTTC VAT – partial exemption special method – hire purchase transactions – taxable supplies of motor vehicles and exempt supplies of credit – whether residual cost inputs have a direct and immediate link with and are cost components of taxable supplies of motor vehicles – whether a methodology which attributes 50% of residual input tax to taxable supplies is fair and reasonable.

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