The Commissioners for HM Revenue and Customs v The Chancellor, Masters and Scholars of the University of Cambridge: [2015] UKUT 0305 TCC

Upper Tribunal Tax and Chancery decision of Mr Justice Simon and Judge Sinfield on 09 June 2015.

Read the full decision in The Commissioners for HM Revenue and Customs v The Chancellor, Masters and Scholars of the University of Cambridge: [2015] UKUT 0305 TCC.

VAT – input tax – endowment fund for benefit of university - investment activity of university not an economic activity and outside scope of VAT – deductibility of input tax on fund management fees - whether fund management fees are overheads – yes - whether fund management services have direct and immediate link with economic activity of university as a whole - yes - appeal dismissed.

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