Specific receipts: refunds of sums paid as VAT: companies with investment business
This is direct tax guidance; for indirect tax guidance, refer to VAT Guidance.
For a company with investment business the majority of refunds are likely to arise in respect of output tax of a trade that it carries on alongside its investment business, for example the provision of management services. In those cases the advice at BIM40166 applies. The other main cause for refunds is overpaid input tax and the advice at BIM40168 similarly applies.
There are specific issues arising where a company with investment business has gone into liquidation. You should refer such cases and any other difficult points in respect of companies with investment business to CTISA (Techincal).