Subscribe to our newsletter

Transact owner faces £4.3m VAT charge

IntegraFin Holdings plc (IHP), parent company of UK investment platform Transact, has been hit with an unexpected £4.3m VAT bill after HMRC challenged its inclusion of its Australian operations within its UK VAT group.

Transact owner faces £4.3m VAT charge
smsfadviser logo
  • Shared by Accountancy Daily
  • January 30, 2020
share this article

In a stock exchange announcement, IHP revealed it had received notice from HMRC about VAT paid by one of its companies, Australian-based Integrated Application Development Pty Ltd (IAD). HMRC said IAD's membership of a UK VAT group would be terminated with effect from 16 July 2016.

Read more at the Accountancy Daily

Receive the latest Financial Accountant news,
opinion and features direct to your inbox.

related articles