The Commissioners for HM Revenue and Customs v The Chancellor, Masters and Scholars of the University of Cambridge: [2015] UKUT 0305 TCC

Upper Tribunal Tax and Chancery decision of Mr Justice Simon and Judge Sinfield on 09 June 2015.

• From: HM Courts & Tribunals Service and Upper Tribunal (Tax and Chancery Chamber)
• Published: 1 December 2016

• Category: Tax
• Release date: 9 June 2015

Read the full decision in The Commissioners for HM Revenue and Customs v The Chancellor, Masters and Scholars of the University of Cambridge: [2015] UKUT 0305 TCC.

VAT – input tax – endowment fund for benefit of university - investment activity of university not an economic activity and outside scope of VAT – deductibility of input tax on fund management fees - whether fund management fees are overheads – yes - whether fund management services have direct and immediate link with economic activity of university as a whole - yes - appeal dismissed.

Published 1 December 2016