The Upper Tribunal has begun hearing HMRC’s appeal against the First-tier Tribunal decision in Pendragon plc v HMRC (and related appeals) [2010] SFTD 1; [2009] UKFTT 192 (TC), TC00147.
Pendragon plc v HMRC (and related appeals)
The Upper Tribunal has begun hearing HMRC’s appeal against the First-tier Tribunal decision in Pendragon plc v HMRC (and related appeals) [2010] SFTD 1; [2009] UKFTT 192 (TC) TC00147.
An accountancy firm advised a group of companies to enter into a complex scheme with the intention of only accounting for VAT on its profit on ‘demonstrator cars’ rather than on their full sale price. Four associated ‘dealership’ companies sold various ‘demonstrator cars’ to three associated ‘captive leasing companies’ under leaseback arrangements.
The ‘captive leasing companies’ assigned the benefit of the lease agreements and the underlying...
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The Upper Tribunal has begun hearing HMRC’s appeal against the First-tier Tribunal decision in Pendragon plc v HMRC (and related appeals) [2010] SFTD 1; [2009] UKFTT 192 (TC), TC00147.
Pendragon plc v HMRC (and related appeals)
The Upper Tribunal has begun hearing HMRC’s appeal against the First-tier Tribunal decision in Pendragon plc v HMRC (and related appeals) [2010] SFTD 1; [2009] UKFTT 192 (TC) TC00147.
An accountancy firm advised a group of companies to enter into a complex scheme with the intention of only accounting for VAT on its profit on ‘demonstrator cars’ rather than on their full sale price. Four associated ‘dealership’ companies sold various ‘demonstrator cars’ to three associated ‘captive leasing companies’ under leaseback arrangements.
The ‘captive leasing companies’ assigned the benefit of the lease agreements and the underlying...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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