Thursday, January 24, 2008
Motor Traders will receive full VAT repayments
Motor Traders awaiting outstanding VAT payments on demonstrator models should now see their claims paid in full.
Following a House of Lords judgment that has discredited a claim deadline imposed by Her Majesty's Revenue and Customs, dealers can expect to receive all outstanding payments.
The House of Lords has decided that pre-existing rights to VAT before 1 May 1997 are protected despite a three-year cap on claims introduced by HMRC.
DATED: 24.01.08
FEED: MT
