Turning over VAT
Murdoch, Sandi
Turning over VAT - 2005 - Estates Gazette (0538) 24 September 2005, 141(1) .
Discusses the inclusion of VAT in the calculation of turnover rents following the successful appeal in "Debenhams Retail plc and another v Sun Alliance and London Assurance Co Ltd" ([2005] EWCA Civ 868, L130503). In this case involving a very long retail lease CA construed the lease so that the turnover figure included VAT. Suggests that whether turnover includes VAT depends upon the wording of the lease as taken in its true commercial context.
DEBENHAMS RETAIL PLC V SUN ALLIANCE AND THE LONDON ASSURANCE CO LTD
Turning over VAT - 2005 - Estates Gazette (0538) 24 September 2005, 141(1) .
Discusses the inclusion of VAT in the calculation of turnover rents following the successful appeal in "Debenhams Retail plc and another v Sun Alliance and London Assurance Co Ltd" ([2005] EWCA Civ 868, L130503). In this case involving a very long retail lease CA construed the lease so that the turnover figure included VAT. Suggests that whether turnover includes VAT depends upon the wording of the lease as taken in its true commercial context.
DEBENHAMS RETAIL PLC V SUN ALLIANCE AND THE LONDON ASSURANCE CO LTD