LON (91/2623)

No. 9813

Decision given 3 February 1993.

Input tax – Partial exemption – Special method – Attribution of input tax – Acquisition by bank of leasing companies – Whether acquisition by bank for mixed purpose – Whether input tax attributable to taxable supplies in full – Value Added Tax Act 1983, sec. 15; Value Added Tax (General) Regulations 1985 (SI 1985/886), reg. 30.

  The issue was whether the appellant was entitled to claim credit for input tax on costs incurred in the acquisition of the shares and trades of three leasing companies purchased for the purpose of gaining the benefit of accumulated tax losses.

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