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Lords tax decision paves way for a rush of claims
By Helen Warrell, Third Sector, 25 July 2007
Charities will be able to demand more interest on their VAT claims from HM Revenue & Customs after a landmark House of Lords ruling last week.
The Lords decided that London-based metals trader Sempra Metals could claim compound interest, rather than simple interest, on historical payments of advanced corporation tax. The decision will apply to charity VAT claims as well. The RNLI, which is bringing a tribunal case against HMRC to recover VAT on fundraising costs...
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