United Kingdom VAT & Duties Tribunals Decisions

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You are here: BAILII >> Databases >> United Kingdom VAT & Duties Tribunals Decisions >> Dragon Futureres Ltd v Her Majesty's Revenue and Customs [2005] UKVAT V19059 (05 May 2005)
URL: http://www.bailii.org/uk/cases/UKVAT/2005/V19059.html
Cite as: [2005] UKVAT V19059

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Dragon Futureres Ltd v Her Majesty's Revenue and Customs [2005] UKVAT V19059 (05 May 2005)

19059

VALUE ADDED TAX – input tax – "carousel fraud" – whether established on facts – decision without reasons by consent of parties

LONDON TRIBUNAL CENTRE

DRAGON FUTURES LIMITED Appellant

and –

HER MAJESTY'S REVENUE AND CUSTOMS Respondents

Tribunal: Dr David Williams (Chairman)

Mr J N Brown CBE

Mr C R Shaw FCA

Sitting in public in London on 10, 11, 12, 13, 14, 17, 18 January, 3, 23 March, 29 April 2005

Andrew Thornhill QC and Penny Hamilton of counsel instructed by McGrigors for the Appellant

Phillipa Whipple of counsel instructed by the Acting Solicitor to HM Revenue and Customs for the Respondents

© CROWN COPYRIGHT 2005


 


DECISION

1. This decision is made following the conclusion of the first part of the hearings in the conjoined appeals between the Appellant and the Commissioners (the ongoing appeals). It is made immediately following the conclusion of the hearings, and without reasons, by consent of both parties under rule 17 of the Value Added Tax Tribunals Rules 1986. It is the second of the decisions made in these appeals, a previous decision having been made following the hearings ending on 18 January 2005.
2. The decision of the Tribunal is that it is satisfied that the transaction identified to it by both parties as deal 531 does not on its facts constitute a transaction where:

(a) there were a missing and/or defaulting trader and/or hijacked VAT number, and

(b) there was a chain of transactions in goods that was circular in nature, and

(c) the chain was carried out in furtherance of an activity that was not an economic activity.

3. Accordingly, to that extent only, the appeals of the Appellant succeed.
4. The costs of this aspect of the appeals are to be determined at the same time as the costs of the ongoing appeals.

DAVID WILLIAMS

CHAIRMAN

RELEASED: 5 May 2005

LON/2004/1461

LON/2004/1462

LON/2004/1826

LON/2004/1854

LON/2004/1880