The Lunar Missions Ltd FTT decision has been discussed elsewhere. It provides a caution for persons seeking funding via crowd funding.
The case looks at the thorny issue of Single Purchase Vouchers.
The legislation is VAT Act 1994, Sch 10A, paras 1-8. And the key HMRC announcement is found in Brief 12/12: http://webarchive.nationalarchives.gov.uk/20130102171124/http://www.hmrc.gov.uk/briefs/vat/brief1212.htm
The case is essential reading for crowd funders, and those who recommend such services.
I did wonder why the taxpayer didn’t argue that the underlying service was an interest in land (being space), which lay outside the UK and the EU, since it was not even on the planet! (Sorry!)
But the FTT decision is here: http://financeandtax.decisions.tribunals.gov.uk//Aspx/view.aspx?id=10252
Hi, I am a VAT Consultant, part of the team at vatadvice.org We are based in Cambridgeshire. We work largely with charities but also advise a range of commercial organisations.
I have over 30 years experience in VAT, and am currently also a part-time member of the Tax Tribunals.
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