Monckton hauls back £300m in VAT for investment trusts in ECJ
Monckton Chambers has scored a European Court of Justice (ECJ) victory that will see investment trusts collectively receive a £300m tax refund in addition to making annual savings of £40m. The ECJ ruled that investment trusts such as JPMorgan Claverhouse, which brought the proceedings, should be exempt from VAT on management expenses. The investment vehicle […]