T Singh Limited v Her Majesty’s Revenue and Customs: FTTTx 2 Apr 2009

FTTTX Value added tax – whether assessment made to best judgement – s 73(1) VATA 1994 – retail scheme – application of direct calculation scheme 1 – use of mark-ups to determine expected selling prices – adjustment of expected selling prices to take account of wastage and loss of stock – time limit for making assessment – s 77(1)(a) VATA 1994 – assessment made to best judgement but reduced by application of three year ‘capping’ rule – appeal dismissed


[2009] UKFTT 37 (TC)




Updated: 03 August 2022; Ref: scu.373631