.png)
.png)
The taxpayer company was incorporated and registered for VAT in May 2008. It described its business as showjumping and trading in horses.
The business claimed input tax of £73 167 in its VAT return for the period to August 2008 in respect of the purchase of a horse called For Fun from which taxable income from various activities would be generated.
HMRC disallowed the claim on the basis the company was not a business for the purposes of VAT. The company appealed.
The key question before the First-tier Tribunal was whether the taxpayer met the business tests in CCE v Lord Fisher [1981] STC 238.
The tribunal judge was not satisfied that the business was a serious undertaking when looked at in conjunction with the tests. The company traded at a loss and relied on the financial support of its sole director.
No horses had been sold despite...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
