Topic: VAT Recovery on Share Transactions
My client engaged a private advisory firm to assist with the acquisition of a company. The acquisition was completed in March 2018 and immediately on completion the invoices with VAT from the professional advisers were issued to my client directly and not to the company.
Initially no claim to deduction of input tax was made on these invoices and the amounts were treated as share issue costs. On second review, my assistant suggested VAT may be recoverable on the invoices.
Could you kindly advice if on the matter of VAT recovery and how to proceed. Any reference to relevant case law would be appreciated.