23 June 2014
UT Decision: HMRC v Lok’nStore Group Plc
VAT – input tax – partial exemption – company making taxable supplies of storage and exempt supplies of insurance – special method for calculating proportion of deductible input tax on overheads – whether special method produces fairer and more reasonable result than standard method – held yes by FTT – whether FTT erred in law in so concluding – held no – appeal dismissed
Andrew Hitchmough QC & Thomas Chacko, instructed by Baker Tilly, acted for the Respondents.
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