Mark Cawthron assesses the ramifications of the Court of Appeal’s decisionThis case has had its ‘twists and turns’. As is well known, it concerns recovery of VAT incurred by the acquiring company (A) in connection with its takeover in 2006 of the UK airports operator, BAA plc (B). B headed up the B VAT group. Following the takeover – though with an interval of 3 months – A joined the B VAT group. B sought recovery of £6.7m of VAT incurred by A on fees associated with the takeover.