Upper Tribunal delivers HMRC v BAA decision

The Upper Tribunal has delivered the decision in Commissioners for HMRC v BAA Limited, reversing the First Tier Tribunal's decision which found in favour of BAA.

As a result the VAT incurred by the bidco, BAA Limited, on advisers' fees in connection with the takeover of the BAA plc group in 2006 has been declared irrecoverable.

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