VAT

Two sets of proceedings had concerned the repayment of VAT on management services provided to closed-end investment trusts companies, and a number of rulings had been made by the Chancery Division in respect of changes in the legislation that had affected the trusts’ entitlement to reclaim VAT from the Revenue and Customs Commissioners. Both the trusts and the Revenue appealed. The Court of Appeal, Civil Division, allowed the appeals and, in so doing, clarified the scope of s 80(7) of the Value Added Tax Act 1994.