Revenue & Customs Brief released by HMRC on outcome of Fleming and Condé Nast decision
HMRC have released Revenue & Customs Brief 7/08 announcing that they will now be paying claims submitted for:
* output tax overpaid or overdeclared in accounting periods ending before 4 December 1996
* input tax in respect of which the entitlement to deduct arose in accounting periods ending before 1 May 1997
These claims will be subject to verification.
In the Revenue & Customs Brief they also say:
HMRC consider that the terms of the judgment are such that they cannot rely on the administrative transitional regime introduced for output tax claims. They accept that the three year cap must therefore be disapplied for such claims where the rights had accrued at 4 December 1996.
HMRC have indicated that they will be making a further announcement in due course after they have given the decision against them additional consideration.
In the meantime if you are in a position where you think you can make a claim for overpaid or overdeclared VAT for periods ending before 4 December 1996, i.e any period up to 30 November 1996 for most businesses, and for periods ending before 1 May 1997, i.e. any period up to 30 April, for claims for input tax that has not been claimed before, you should submit your claims at the earliest opportunity. Details of how to make a claim and where to send it can be found in the Revenue & Customs Brief, which you can download from HMRC’s website.
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- The Budget 2008 – an overview of the VAT changes
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