The government could be forced to pay out tens of millions of pounds to
taxpayers reclaiming disputed VAT repayments, following a landmark challenge by
the RSPCA and Totel Ltd.
The decision could particularly affect those whose repayments have been held
up following carousel fraud chain concerns.
Following the decision taxpayers who are owed VAT repayments and have gone
through a tribunal will be entitled to an interest rate at least 2% higher than
Both claimants were challenging HM Revenue & Customs’ stance that the
rate of interest paid on VAT repayments won after a tribunal should be the same
as when VAT is overpaid due to an HMRC error.
The High Court ruled that the rate after a tribunal should be at least 1%
higher than the base rate rather than 1% below, the administrative error rate.
Claimants linked to the Bond House action, the test case on disputed VAT
reclaims associated with carousel fraud chains, could claim back tens of
millions extra in interest as a result.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure
The Apple Tax situation; Accountants replaced by robots; and The Accountancy Age Top 50+50; all discussed by head of editorial Kevin Reed