HMRC has published advice for businesses on how to treat personal contract purchases (PCP) and similar contracts, following the European Court of Justice (CJEU) decision on Mercedes Benz Financial Services (MBFS).
This brief explains the circumstances where these contracts must be treated as a supply of leasing services, the date from when the change in treatment must be applied, and how to correct past periods where necessary.
All members supplying personal contract purchase or similar contracts should read the brief which can be read in full on the gov.uk website.
