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VAT and prompt payment discounts: TalkTalk Telecom v HMRC

In December 2022, the First-tier Tax Tribunal released its judgement in the case of TalkTalk Telecom Ltd v HMRC. The case was in relation to a VAT assessment for £10.6m, which arose because HMRC believed that VAT should have been accounted for on prompt payment discounts.

Source: haysmacintyre.com

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