000			01225cab a2200193 4500
001			L130051
008			050617n2005 000 0 eng u
035			_a(Sirsi) u130051
041			_aeng
100			_aGordon, Warren
245			_aCase law: Abbey v the Commissioners of Customs and Excise
260			_c2005
490			_aProperty Week _v70(22) 3 June 2005, 67(1)
520			_aDiscuses the case ([2005] EWHC 1187, unreported, L129866) involving a sale-and-leaseback agreement entered into by Abbey with Mapeley. The two companies ceated a virtual assignment by which Abbey would transfer all the economic burdens and benefits of the shorter leases to Mapely but pay a fee similar to the rent it would have paid under a normal leaseback. Customs and Excise claimed this fee should be charged VAT as it was a taxable supply of agency. However the court held that VAT was not chargeable as the arrangement should be regarded as a letting,nor would VAT be chargeable on property where Abbey had been granted the subleases and had transferred the economic benefit to Mapeley.
590			_aIKA210605
650			_aABBEY V THE COMMISSIONERS OF CUSTOMS AND EXCISE
690			_aPROPERTY-PROPERTY TAXATION
942			_n0
999			_c75422 _d75422