FINANCE VAT avoidance
23rd August 1986, Page 21
23rd August 1986
Page 21
Page 21, 23rd August 1986
— FINANCE VAT avoidance
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• People running companies which have been split wholly or mainly for VAT avoidance purposes are now liable to have their tax status changed so they become liable to pay vAT on their company's operations.
Under the regulations of the 1986 Finance Act, HM Customs and Excise is empowered to direct a change of tax status if a company or group of companies is seen to be avoiding VAT.
Any person who feels he has been unreasonably treated under the new regulations may appeal to an independent VAT I ribunal.