Revenue and Customs Commissioners v Chancellor, Master and Scholars of the University of Cambridge

Value added tax – Input tax. In a claim for deduction of input tax, where the management fees were incurred in relation (and only in relation) to a non-taxable investment activity, there remained a lack of clarity as to whether it was nonetheless possible to make the necessary link between those costs and the economic activities which were subsidised with the investment income which was produced. Accordinlgy, the Court of Appeal, Civil Division, decided to seek guidance from the Court of Justice of the European Union.

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