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HMRC loses £1m VAT case against Scottish farmer

HMRC has lost a £1m VAT case on appeal at the Supreme Court against a Scottish farmer over the purchase of farm subsidy entitlements.

HMRC loses £1m VAT case against Scottish farmer
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In a judgement issued on 29 July, the court said taxpayers can deduct VAT incurred in purchasing the rights to a subsidy, in this case entitlements to Single Farm Payments (SFPs).

Read more at Accountancy Daily

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