In Masstech Corporation Ltd v HMRC (TC01491 – 3 November) HMRC rejected a claim to input tax on the grounds that it appeared that the relevant transactions were connected with MTIC fraud. The company (M) appealed and HMRC applied to submit seven late witness statements four of which related to a information about the appellant company which had been discovered on the server of a Curacao bank which had been the subject of a investigation by the UK and Netherlands authorities (see Megantic Services Ltd v HMRC (No 2) [2011] STC 1000). Judge Mosedale held that the evidence obtained from the bank ‘was likely to be of important probative value. It is alleged to show that the movement of money on a significant proportion of a sample of alleged deal chains in this case was circular....
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In Masstech Corporation Ltd v HMRC (TC01491 – 3 November) HMRC rejected a claim to input tax on the grounds that it appeared that the relevant transactions were connected with MTIC fraud. The company (M) appealed and HMRC applied to submit seven late witness statements four of which related to a information about the appellant company which had been discovered on the server of a Curacao bank which had been the subject of a investigation by the UK and Netherlands authorities (see Megantic Services Ltd v HMRC (No 2) [2011] STC 1000). Judge Mosedale held that the evidence obtained from the bank ‘was likely to be of important probative value. It is alleged to show that the movement of money on a significant proportion of a sample of alleged deal chains in this case was circular....
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