Supreme Court rejects HMRC’s appeal on compound interest

The Supreme Court has today refused to hear an appeal by HMRC in relation to a case involving compound interest. 
 
In July, the Court of Appeal ruled in favour of a group of five motor dealers seeking compound interest from HMRC on VAT repayments.  The Court of Appeal decided the taxpayers had indeed made their appeals to the Tax Tribunal in time and the Supreme Court’s decision today means the taxpayers have finally won on that point. 
 

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