Customs business brief 30/04.

0 Comments | M2 Presswire, November, 2004

M2 PRESSWIRE-19 November 2004-UK Government: Customs business brief 30/04(C)1994-2004 M2 COMMUNICATIONS LTD RDATE:11192004 Contents: 1. VAT AND PARTNERSHIP 'SHARES' Background Business Brief 21/04 clarified Customs' policy on share issues and partnership contributions following the European Court of Justice (ECJ) decision in KapHag Renditefonds (C-442/01).

That Business Brief did not deal with the VAT position of transfers of partnership interests ('shares'). This Business Brief explains the VAT treatment of transactions involving the transfer of a partner's 'share'. Is the disposal of a 'share' in a partnership a supply? KapHag established that a partnership entity or the existing partners are making no supply when a new partner is admitted in...