Revenue and Customs v Frank A Smart & Son Ltd (Scotland), [2019] UKSC 39

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Summaries

Summary Under

input credits were available for fund raising costs of a taxable business

The taxpayer (“FASL”) purchased entitlements to an EU farm subsidy, the Single Farm Payment (“SFP”). The purchased SFPs generated annual...

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Summary Under

VAT on sale of shares to fund downstream economic activity would be creditable

The taxpayer (“FASL”) purchased entitlements to an EU farm subsidy, which generated annual subsidies over several years (which initially...

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