The UK on Sept. 30 issued guidance explaining the conditions that must be met for holding companies to recover VAT. The guidance describes when shareholding is considered part of an economic activity allowing VAT to be recoverable, when VAT is recoverable for companies that provide taxable services to subsidiaries, the effect of a holding company joining a VAT group, and mixed economic and non-economic activities. VIT40600. For analysis, see Pinset Masons.
