References: [2012] UKUT 90 (TCC)
Links: Bailii
Coram: Morgan J
Ratio: UTTC VALUE ADDED TAX – margin scheme for second-hand goods – arrangement by which motor dealer raised finance and became able to sell demonstrator cars within margin scheme – whether abusive – yes – appeal allowed
Statutes: First Council Directive on VAT, 67/227/EEC 2
This case cites:
- Appeal from – Pendragon Plc and Others -v- Revenue & Customs FTTTx (Bailii, [2009] UKFTT 192 (TC))
FTTTx VAT- financing involving sale of business – Abuse? No financing transaction as going concern which gave margin treatment – Appeal allowed . .
(This list may be incomplete)
This case is cited by:
- Appeal from – Pendragon Plc and Others -v- HM Revenue and Customs CA (Bailii, [2013] EWCA Civ 868)
The Revenue had imposed a penalty on the appellants saying that their arrangement for the sale and VAT taxation of demonstrator cars was, in European law terms. The taxpayer sought re-instatment of the First Tier Tribunal judgment in its favour. - At UTTC – Revenue and Customs -v- Pendragon Plc and Others SC (Bailii, [2015] UKSC 37, [2015] STI 1921, [2015] WLR(D) 253, [2015] STC 1825, [2015] 3 All ER 919, [2015] BVC 30, [2015] 1 WLR 2838, Bailii Summary, WLRD, UKSC 2013/0197, SC, SC Summary, SC Video)
‘This appeal is about an elaborate scheme designed and marketed by KPMG relating to demonstrator cars used by retail distributors for test drives and other internal purposes. In the ordinary course, a car distributor will buy new cars for use as . .
(This list may be incomplete)
Last Update: 06-Jul-16
Ref: 452895