VDT VALUE ADDED TAX – partially exempt trader – failure to make correct partial exemption calculation – errors due to misunderstanding – under-declared tax agreed and paid – trader disputing assessment for interest and imposition of misdeclaration penalty – interest no more than commercial restoration – penalty properly imposed – no reasonable excuse but mitigation to five per cent appropriate – appeal allowed only to that extent
Citations:
[2005] UKVAT V19113
Links:
Jurisdiction:
England and Wales
VAT
Updated: 03 July 2022; Ref: scu.229599