HMRC Reverses Course On Retroactivity Of VAT
By EsqSocial Corporation 02/02/21
Previously, we reported that HMRC reversed its position on early termination fees, announcing on 2 September 2020 that such fees would be subject to VAT and taking the controversial position that this change in policy would be retroactive. In another reversal, HMRC has now announced that the change will apply from a future date only, not retroactively......
By: Vinson & Elkins LLP