ING Intermediate Holdings Ltd v HMRC, [2017] EWCA Civ 2111

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Summaries

Summary Under

services provided in deposit-taking business were more than peripheral so that supplies were made

The relevant companies in the ING group ("IDUK") carried on a retail banking trade which comprised taking cash deposits from private individuals,...

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Summary Under

interest paid by bank to depositors was reduced by implied fees earned as consideration going to the bank

Although accepting (per BLP) that a mere borrowing by a company is not a supply by it, Arden LJ confirmed the finding below that the services...

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Summary Under

court only goes behind the contract if the contract does not reflect the true agreement

Although accepting (per BLP) that a mere borrowing by a company is not a supply by it, Arden LJ accepted the finding below that the services...

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Summary Under

borrowing is not by itself a supply by borrower

Although accepting (per BLP) that a mere borrowing by a company is not a supply by it, Arden LJ confirmed the finding below that the services...

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