- Bollinway Properties Limited (BPL) submitted a VAT return claiming a repayment of £71,170,729.68.
- BPL asked HMRC to offset the amount of its credit against Toys “R” Us Properties Limited’s (TRUP) VAT liability.
- HMRC allocated £71,084,816.43 to TRUP’s VAT account and authorized the remaining amount for repayment to BPL.
- BPL sought a repayment supplement of £3,554,240.82, but HMRC refused.
- The First-tier Tribunal (FTT) agreed with HMRC that repayment supplement was not payable.
- BPL appealed the FTT decision, arguing that it did not assign its entitlement to TRUP and that repayment supplement should be due.
- The Upper Tribunal (UT) released its decision, but the details of the decision are not provided in the text.
Source: ey.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.