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Finance Act 2008 will provide a transitional period, ending on 31 March
2009, for businesses to claim overpaid output tax or underclaimed input tax
which occurred before the 3 year cap was introduced in 1996 (for output tax)
and 1997 (for input tax).
Our view
Businesses can consider making claims for overpaid or underclaimed VAT
from 1973 to either 1996 (output tax) or 1997 (input tax). However, any
claims made after these dates will still be subject to the 3 year
limitation period. This transitional measure was widely anticipated
following the decision of the House of Lords in Fleming (trading as
Bodycraft) and The Condé Nast Publications Ltd v H M Revenue and
Customs.
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