SCTP Seeks VAT Opinion on Loans and Sub-contracting

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Last week SCTP carried a news item on the potential VAT issues relating to sub-contracting. This added to the existing concerns about VAT and loans. SCTP has sought advice from VAT adviser Mike Payne of Grosvenor VAT consultants and has reproduced his comments here. Clearly every provider will need to draw its own conclusions about its own VAT liabilities.