Commentary

RCB/17/13 VAT—Tribunal decision in Paymex Limited v HMRC

Part V16 Forms and other HMRC material

RCB/17/13 VAT—Tribunal decision in Paymex Limited v HMRC

RCB/17/13 VAT—Tribunal decision in Paymex Limited v HMRC

Revenue & Customs Brief, Issue 17. 8 July 2013

In recent discussions the insolvency profession has drawn HM Revenue & Customs (HMRC) attention to an internal VAT Finance guidance relating to voluntary arrangements contained in VATFIN3260 which states that

'Where the IP acts only as the supervisor and has not previously acted as a Nominee then these supplies will be taxable at the standard rate.'

Insolvency practitioners have asked HMRC to clarify this advice in light of the VAT Tribunal decision in the case of Paymex Limited and the subsequent HMRC Briefs published in response to the Paymex ruling, the content of which were agreed with the insolvency profession.

Revenue & Customs Brief 27/11, issued in July 2011, contained the following paragraph under the heading 'Tribunal

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