The company incurred costs on the issue of shares issued and sold in part within the EU and in part outside. It sought to reclaim the VAT on the payments made. The issue of shares was a supply of services even though there was no transfer or depletion of resources. The six accepted elements for a supply need not be extended to include such a requirement. The input tax insofar as it related to the sale of shares to persons within the EU was not recoverable.
Judges:
Lightman J
Citations:
Gazette 24-Feb-2000, Times 07-Mar-2000, [2000] EWHC Admin 287
Links:
Jurisdiction:
England and Wales
Company, VAT
Updated: 29 May 2022; Ref: scu.140101