In DCM (Optical Holdings) Ltd, the Supreme Court has given further guidance on the application of the one-year limit for HMRC to raise a VAT assessment after receiving sufficient evidence of facts. The judgment also confirms that HMRC has an implicit power to refuse to pay a VAT credit while it verifies the validity of the claim and that any unfairness between the position for a repayment trader and an under-declaring payment trader does not amount to unjustified discrimination.
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In DCM (Optical Holdings) Ltd, the Supreme Court has given further guidance on the application of the one-year limit for HMRC to raise a VAT assessment after receiving sufficient evidence of facts. The judgment also confirms that HMRC has an implicit power to refuse to pay a VAT credit while it verifies the validity of the claim and that any unfairness between the position for a repayment trader and an under-declaring payment trader does not amount to unjustified discrimination.
If you are not a subscriber, subscribe now to read this content.
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