VAT, customs duties other indirect taxes affect every business and planning and professional advice can produce real benefits. Businesses have to correctly interpret the labyrinth of rules and regulations in an ever increasingly complex area of tax.
RSM Tenon’s indirect taxes team offers a wide range of services to help businesses manage their tax liabilities and costs. The team includes ex-HMRC officers who have first hand knowledge of the approach and methods HMRC use.
RSM Tenon can advise you on:
Retail Print Industry: 'Photographic books'...possibly of VAT refunds
In a recent case in the First Tier Tribunal, the company which trades as ‘Truprint’ succeeded in their argument that their mail order supplies of ‘photo books’ were indeed legible to be treated as ‘books’ for the purposes of zero-rating. HMRC had contended that their supply was one of photographic processing, which is subject to VAT.
It is now possible to calculate possible over-accounting of VAT output-tax for previous periods and to submit protective claims pending any announcement from HMRC in terms of either a change of policy or, possibly, an appeal against the Tribunal’s findings.
Any claim should be mindful of the ‘unjust enrichment’ provisions where HMRC has a right to deny reclaims of output-tax incorrectly accounted for where the claimant would be ‘unjustly enriched’, so care needs to be taken in formulating claims.
For more information, or if you think you may be eligible to make a claim, contact your usual RSM Tenon Tax Adviser.
Full details of the case can be found here.