LON (92/2859)

No. 10,922

Decision given 29 July 1993.

Supply – Mortgage interest capping agreement – Taxpayer acquired lease and received payments from vendor to keep interest payments beneath certain level – Whether this amounted to reverse premium – Value Added Tax Act 1983. s. 3(2)(b); Directive 77/388, the sixth VAT directive, art. 2(1) and 6(1).

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