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.

Please click here for the full decision.