A recent first tier tribunal VAT case held that professional services in connection with a rather convoluted share scheme for the owner managers was a valid business expense.  HMRC had contented that the advice was for the benefit of the shareholders and nothing to do with the business.  However the taxpayer won the case that such costs can relate to incentivising employees which is core business expenditure.

As with all of our tax tips and web pages this information is necessarily summarised and of a general nature.  If you would like detailed specific advice please contact us.