The Advocate General’s opinion compounds uncertainty over interest, explain Nick Skerrett and Ben Cooper.
Littlewoods Retail Ltd and others v HMRC (Case C-591/10) is the current lead case in relation to compound interest in the context of VAT. Given the high values at stake and the multiple cases proceeding on variants of the point it was hoped the opinion of Advocate General Trstenjak would bring some welcome clarity to the complex legal issues involved.
Vos J in his preliminary judgment of May 2010 ([2010] EWHC 1071 (Ch)) rejected a right to compound interest under...
