Commentary

BB/12/99 VAT tribunal decision—The Royal Bank Of Scotland

Part V16 Forms and other HMRC material

BB/12/99 VAT tribunal decision—The Royal Bank Of Scotland

BB/12/99 VAT tribunal decision—The Royal Bank Of Scotland

Business Brief, Issue 12. 27 May 1999

This Business Brief sets out Customs' position in light of the tribunal decision in this case which concerned the definition of “an amount overpaid by way of VAT.”

There are two different ways in which claims for sums overpaid as VAT are capped at three years. If a claim relates to an “amount overpaid by way of VAT”, it is capped with effect from 18 July 1996 (VATA 1994 s 80). All other claims are capped from 1 May 1997 (s 25(3)). Therefore the definition of an

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial