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Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

04 APR 2012

Paymex Ltd v Commissioners for Her Majesty's Revenue and Customs [2011] UKFTT 350 (TC), [2012] BPIR 178 (First Tier Tribunal, Tribunal Judge Roger Berner and Mrs Sadeque, 26 May 2011)

In a decision that has huge practical issues for supervisors in current cases and former supervisors in closed cases, the First Tier Tribunal (Tax) allowed the taxpayer's appeal and held that supplies made in connection with consumer individual voluntary arrangements were not taxable supplies for VAT purposes. The services provided by the nominee and supervisor amounted to negotiation and payment handling, which were exempt from VAT.

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Bankruptcy and Personal Insolvency Reports

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Individual Voluntary Arrangements

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