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Howzat? Not out!
KEY POINTS
- Use of management charges to move profits between two companies.
- HMRC guidance at VATSC55400 gives examples of when it considers management charges have not been made.
- In Stirling Investments it was agreed that a payment was a dividend not a management charge.
- If no taxable sales are involved the charge can be ignored for VAT.
Cricket is on my mind as I write this because England’s men have won the second Test in Pallekele to clinch the three-match series against Sri Lanka. England’s women have also reversed their fortunes in the Caribbean after two matches were abandoned due to the weather and a couple of defeats to reach the semi finals of the World Twenty20 tournament. Being a batter at cricket is probably the hardest job in the world of sport. One...
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