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Article: -CUSTOMS AND EXCISE: VAT on property -- Implications of The Mirror Group Plc case
- Article from:
- M2 Presswire
- Article date:
- August 10, 1998
CopyrightCOPYRIGHT 1998 Normans Media Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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M2 PRESSWIRE-10 August 1998-CUSTOMS AND EXCISE: VAT on property -- Implications of The Mirror Group Plc case (C)1994-98 M2 COMMUNICATIONS LTD
RDATE:070898
HM Customs and Excise lost part of this case and will be appealing to the High Court. This Business Brief outlines the implications of the case and those circumstances in which businesses may in the interim apply the decision.
This case concerned the VAT liability of an inducement payment of GBP 12 million made by a landlord (Olympia & York Canary Wharf Limited) to a prospective tenant (Mirror Group Plc) to take a lease of several floors of a building in Docklands.
Customs argued that the ...