Loyalty Management UK (LM UK) responded to HM Revenue & Customs’ (HMRC) challenge in the Supreme Court today, arguing that the House of Lords’ decision in Redrow has not been overridden by European case law, and therefore the taxpayer is entitled to a full deduction of input VAT on service fees paid to redeemers.
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Two months since EU political agreement on pillar two and few member states have made progress on new national laws, but the arrival of OECD technical guidance should quicken the pace. Ralph Cunningham reports.