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Notes:
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VAT – INPUT TAX – ASSESSMENT – HMRC denied input tax claims
totalling £206,696 in respect of four transactions involving sales of semiconductors
which resulted in an assessment of ₤1,501.57 – Was there a
VAT Loss? – Yes – Was the loss fraudulent? – Yes – Were the Appellant’s
transactions connected with the fraud? – Yes - Did the Appellant know or
should have known that its transactions were connected to fraudulent
evasion of VAT? – Yes the Appellant should have known – Appeal dismissed |
