The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
The government will be forced to refund millions of pounds of VAT to companies following a crucial European Court of Justice (ECJ) decision this morning (12 January).
Peters & Peters partner Monty Raphael, instructing Blackstone Chambers’ Tom Beazley QC and Robert Englehart QC, acted for electronics companies Optigen and Fulcrum in their claim for VAT repayment.
The case concerns ‘carousel fraud’, in which traders buy goods overseas and then use VAT payable only in the UK to make a profit on the goods. Customs & Excise refused to repay VAT to Optigen, Fulcrum and a third company, Bond House, a decision upheld by the VAT & Duties Tribunal.
The High Court referred the cases to the ECJ, resulting in today’s ruling. The decision means that Customs will now have to prove that a company was complicit in carousel fraud, or was aware of it, before it can recover VAT on goods involved in such a case.
Englehart said: “There’s no doubt it’s a community problem and there’s great concern about VAT frauds within the European Community.”
Monckton Chambers’ Paul Lasok QC acted for Bond House, instructed by David Sweeting of IVC Tax Consultants in Leeds and Hassan Khan of Hassan Khan & Co tax boutique. Rupert Anderson QC, also of Monckton, represented Customs.