VAT update

Compound interest on overpaid VAT: HMRC seeking to appeal against Littlewoods

On 23 June, HMRC published Revenue and Customs Brief 9(2015) which confirms its position following the Court of Appeal judgment in Littlewoods Retail Ltd v Revenue and Customs Commissioners [2015] EWCA Civ 515. HMRC has announced it will seek permission to appeal to the Supreme Court against the Court of Appeal’s decision.