Decision given by Mr Miller CB (Chairman) on 22 March 2002.
Exemption – Land – Whether election to waive exemption made – Whether election binding on appellant.
The issue was whether the appellant college had elected to waive exemption from VAT in respect of a property situated at Earsby Street, Olympia, London W14. The property was sold by the appellant on 1 July 1999 and it was common ground that if no election had been made, the sale was correctly treated as an exempt supply. On the other hand, it was agreed that if the appellant had so elected, VAT was due to the commissioners.