000			01322cab a2200205 4500
001			##L131912
008			051215n2005 000 0 eng u
035			_a(Sirsi) u131912
041		0	_aeng
100	1		_aElliott, Graham
245	0	0	_aVAT comes back to haunt you
260			_c2005
490		0	_aEstates Gazette _v(549) 10 December 2005, 86(1)
520			_aPurchasers of commercial property commonly have problems with obtaining evidence of the vendor's right to charge VAT. This usually centres on the vendor's election to waive exception. There is relatively little clarification available from VAT tribunal decisions. Looks at "Marlow Gardner and Cooke Ltd Directors' Pension Scheme v HM Revenue and Customs Commissioners" ([2005] UKVAT V19326) and "Fencing Supplies Ltd" ([1993] VATTR 302, VAT Dec 10451). Highlights that vendors can waive exemption from VAT without knowing that they have done so, that an obligation to pay VAT may arise years after the purchase was finalised and that the distinction between making an election and notifying it is critical.
590			_aIKA030106
650	2	4	_aMARLOW GARDNER & COOKE LTD DIRECTORS PENSION SCHEME V REVENUE & CUSTOMS COMMISSIONERS
650	2	4	_aFENCING SUPPLIES LTD
690			_aPROPERTY-COMMERCIAL PROPERTY-COMMERCIAL PROPERTY TAXATION
942			_n0
999			_c76292 _d76292