LON (90/613)

No. 6116

Decision given 7 March 1991.

Deposit – Whether deposit created a tax point – Deposit received from potential customer for purchase of a Ferrari motor car – Deposit made to show serious intention to purchase car – Whether deposit created a tax point for a supply – Value Added Tax Act 1983, sec. 5(1).

  The issue was whether the payments of deposits received by the appellant related to a supply and were therefore chargeable to tax on the date when the deposits were received.

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