Author: Dennis Chapman
Published: November 7, 2009
Reading time: 1 minute
This article is 13 years old.
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A recent ruling by the Upper Tribunal (a special higher tribunal in VAT cases) has restricted claims by dealers for interest lost in treating demonstrators as ‘non qualifying vehicles’ to simple interest as opposed to compound interest.
The VAT overpayments arose when demonstrator vehicles were sold under the ‘margin scheme’.