Debenhams loses Lords appeal
Appelate committee turns down request for appeal to Lords on card-handling case
Appelate committee turns down request for appeal to Lords on card-handling case
Debenhams has been refused leave to appeal in its case with HM Revenue &
Customs over card handling.
The House of Lords appellate committee has turned down a request to appeal,
meaning the Court of Appeal’s judgment in favour of the Revenue will now stand.
Debenhams had set up a card-handling subsidiary which channeled a percentage
of all payments to a card-handling subsidiary, and meaning that element of every
payment was exempt from VAT.
The scheme was used by about 90 retailers, allowing them to avoid £550m in
tax. It has proved especially controversial since HMRC expressed an intention to
pursue users of the scheme and land them with a further bill for other
relationships the schemes threw up.
The numbers you crunch tell a story. Your expertis...
18yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe amount of tax saved by businesses through HMRC’s Patent Box scheme has increased by 23% over the last five years, from £1.14 billion in 2017/18 to...
View articleUK Chancellor Jeremy Hunt has hinted at the possibility of further tax cuts in the upcoming spring Budget, during his time at the World Economic Forum...
View articleThe legislation, which introduces a global minimum tax of at least 15% for multinational enterprises, aims to limit tax competition and ensure large c...
View articleThe upcoming tax changes in 2024 will significantly impact businesses and individuals in the UK. Accountants play a crucial role in helping clients na...
View articleAccountants must stay vigilant, adapt their tax strategies to evolving regulations, prioritize transparency, and foster collaboration with tax authori...
View articleAs the government prepares for re-election, PM Sunak promises to control spending in order to bring forth tax cuts next year Read More...
View articleThe Office for National Statistics revealed that the UK economy shrank by 0.3% in March after the economy grew by 0.1% in the previous three months Re...
View articleAs the Spring Budget approaches, dissenters of the UK government’s increasingly complex contractor legislation are baying for change. HMRC has already...
View article