- The UK Tax Tribunal ruled on a case involving VAT fraud by a labor supplier.
- The taxpayer, a VAT registered company, claimed input VAT deductions against the loss caused by the supplier’s fraud.
- The Tax Agency denied the deductions, sought deregistration, and imposed penalties, claiming the taxpayer knew or should have known about the fraud.
- The Tax Tribunal disagreed, finding the Tax Agency failed to prove the taxpayer’s knowledge of the fraud.
Source: news.bloombergtax.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.
Latest Posts in "United Kingdom"
- UK VAT Threshold Debate: Growth-Boosting Increase or Revenue-Raising Decrease at Autumn Budget?
- Chancellor Proposes Raising VAT Registration Threshold to £100,000 to Boost UK Economy
- ICS2 Implementation for Northern Ireland: Transition Details and Support for Carriers by HMRC
- FTT Rules Ferrero’s Nutella Biscuits Not Partly Chocolate-Covered, Zero-Rated for VAT
- HMRC Wins Upper Tribunal Case Against Mini Umbrella Company Fraud, Tightens Compliance Rules