The case involved Electronic Data Systems in relation to services provided in connection with an outsourced loan operation.
An original tribunal held services provided by EDS to Lloyds TSB and Lloyds TSB Insurance Services, qualified for exemption from VAT. The Court of Appeal has unanimously upheld the decision.
‘This is a landmark decision in the continuing legal debate over the correct VAT treatment of financial services outsourcing,’ said Peter Jenkins, Ernst & Young’s global head of indirect tax. ‘Customs may well now conclude that it is wholly unfruitful to seek to pursue this issue further in litigation.’
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
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