[2014] UKUT 0288 (TCC)

Upper Tribunal (Tax and Chancery Chamber)

Mr Justice Henderson

Decision released 23 June 2014

Value added tax – Input tax – Partial exemption – Company making taxable supplies of storage and exempt supplies of insurance – Special method for calculating proportion of deductible input tax on overheads – Whether special method produces fairer and more reasonable result than standard method – Held yes by First-tier Tribunal (FTT) – Whether FTT erred in law in so concluding – Held no – Value Added Tax Regulations 1995 (SI 1995/2518), reg. 101 and 102 – Appeal dismissed.

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