VAT — repayment of output tax accounted for but not properly due — repayment falling into recipient’s profit — Shop Direct — whether profit so derived within scope of corporation tax — yes — appeal dismissed.

Rupert Baldry QC, Elizabeth Wilson and Nicholas Saunders, counsel, instructed by the General Counsel and Solicitor to HM Revenue and Customs, for the Respondents.

To see the approved Decision, click here.

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