R.I.P. BLP?

In this article, which is reproduced by kind permission of Tax Advisor magazine, Dave Anderson and Michael Taylor trace the evolution of the European and UK case law concerning share disposals and the recovery of input tax. They conclude that, following the ECJ's judgments in Kretztechnik and SKF, and the UK Supreme Court's judgment in Frank A Smart, businesses should now consider carefully whether to restrict the recovery of any input tax that was incurred for taxable purposes.