<b>Tax News:</b> BT to take VAT appeal to Europe. By Louise Birkett

BT's claim for a refund of £24 million in overpaid VAT has been referred to the European Court of Justice by the Court of Appeal.

The overpayment, originally of £40 million, was down to a glitch in a computer system that ran the monthly payment plans in 1991.

When someone whose account was in credit left the monthly scheme, a refund was given. As this reduced the amount of consideration, the VAT bill should also have been reduced.

Continued...

» Register now

The full article is available to registered AccountingWEB members only. To read the rest of this article you’ll need to login or register.

Registration is FREE and allows you to view all content, ask questions, comment and much more.