Turning over VAT
Language: English Series: Estates Gazette ; (0538) 24 September 2005, 141(1)Publication details: 2005Subject(s): Summary: 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.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L131129 (Browse shelf(Opens below)) | 1 | Available | 131129-1001 |
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.