Challenging HMRC’s Best Judgement: The Ancient & Modern Jewellers Limited Case in the Courts

• The case involves the Ancient & Modern Jewellers Limited and the issue of whether the second-hand goods margin scheme was applicable
• HMRC issued assessments for underdeclared output tax
• A&M sold second-hand wristwatches, with most sales accounted for under the margin scheme
• HMRC issued assessments based on information from Italian tax authorities regarding supply chain fraud
• A&M claimed HMRC did not use best judgement in issuing assessments
• HMRC contended that assessments were based on best judgement and previous concerns raised in 2014
• The concept of “best judgement” was discussed in the case, as described by Woolf J in Van Boeckel v CEC [1981] STC 290.

Source: deeksvat.co.uk

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.

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