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| HMRC Revises VAT Guidance on Business Entertaining |
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HM Revenue & Customs has updated its VAT Notice 700/65 Business Entertainment to take account of changes in the rules relating to entertaining overseas customers. This has proved necessary in light of the ECJ ruling in the case of Danfoss and AstraZeneca (Case-371/07), wherein the ECJ found fault with HMRC's previous position of rejecting any VAT claim for business entertaining in any circumstances. The guidance does its best to limit the scope of any possible reclaim, as did the preceding Revenue & Customs Brief 44/10 - VAT: Change in the Tax Treatment of Entertainment of Overseas Customers. One key factor will be any corresponding Output VAT charge relating to "private use" in respect of the entertainment. For further information, please also see our article - That's Entertainment! |
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Article Added Tuesday, 22 November 2011 | 1084 Hits |
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