In Tower Bridge GP Ltd v HMRC[2021] UKUT 30 (TCC) (12 February 2021) the Upper Tribunal ruled that HMRC was within its rights to deny input tax recovery in respect of non-compliant invoices.
The appellant (T) was the representative member of the Cantor Fitzgerald Group VAT group. A member of that group (C) traded in carbon credit transactions. Between May and June 2009 C purchased carbon credits from another company (S). These purchases generated input tax in excess of £5.5m for which T duly claimed a deduction. However the invoices were deficient in that they did not include S’s VAT registration number and did not name C as the customer. It subsequently transpired that S was a fraudulent trader was not VAT registered and did not account for output tax on the transactions.
HMRC disallowed the input tax claimed on the grounds that it was not supported by valid...
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In Tower Bridge GP Ltd v HMRC[2021] UKUT 30 (TCC) (12 February 2021) the Upper Tribunal ruled that HMRC was within its rights to deny input tax recovery in respect of non-compliant invoices.
The appellant (T) was the representative member of the Cantor Fitzgerald Group VAT group. A member of that group (C) traded in carbon credit transactions. Between May and June 2009 C purchased carbon credits from another company (S). These purchases generated input tax in excess of £5.5m for which T duly claimed a deduction. However the invoices were deficient in that they did not include S’s VAT registration number and did not name C as the customer. It subsequently transpired that S was a fraudulent trader was not VAT registered and did not account for output tax on the transactions.
HMRC disallowed the input tax claimed on the grounds that it was not supported by valid...
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