In Taylor Wimpey v HMRC [2015] UKFTT 74 (12 February 2015) the FTT found that Taylor Wimpey’s claim for recovery of input tax was netted off against output tax which had not been accounted for.
Taylor Wimpey had claimed input tax on certain items installed in newly built homes by companies now in its VAT group in the period between 1 April 1973 and 30 April 1997.
The FTT had not yet decided the ‘set off’ question. HMRC considered that even if Taylor Wimpey was right and it was entitled to recover input tax on separate standard rated supplies its claim would have been netted off against the output tax that should have been but was not accounted for on the standard rated sale of the claim items.
The FTT confirmed that assuming that the builders’ block had unlawfully made Taylor Wimpey’s supplies...
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