Customs and Excise Commissioners v BAA plc; Institute of Directors v Customs and Excise Commissioners.  BVC 112
 EWCA Civ 1814
Court of Appeal (Civil Division).
Sir Andrew Morritt V-C, Mummery and Tuckey L JJ
Judgment delivered 11 December 2002.
Value added tax – Exempt transaction – Granting and negotiating of credit – Credit card scheme – Affinity or co-branded credit cards – Taxpayers endorsed credit cards under agreements with issuing banks – Whether supply of services by taxpayers under agreements exempt transaction as negotiation of credit and provision of intermediary services – Council Directive 77/388, art. 13(B)(d)(1) – Value Added Tax Act 1994, Sch. 9, Grp. 5, item 2, 5.