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David Jamieson

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David is a partner and has represented clients in VAT disputes for over 15 years at all stages of the litigation process. He specialises in resolving high-value VAT disputes working primarily with clients in financial services and telecommunications and e-commerce sectors.

HMRC have issued new VAT guidance in relation to termination fees and compensation payments. HMRC now consider that such payments will normally represent consideration for the supply of goods or services and therefore are liable to VAT. This results in uncertainty for many payments which would have previously been treated as compensation and outside the scope of VAT. We have considered the impact of the new guidance below, specifically in the context of M&A transactions.