TriCell LTD (fka TCLL)

[trailorparkboy]

VAT chiefs fair deal promise
The FTI warned the Government to defer the legislation until it could be approved by the European Court of Justice. A spokesman for the Chancellors office told Mobile News:
The clauses 17 and 18 are compatible with EC VAT law and the Human Rights Act. They are a proportionate response to companies undermining the VAT system. There are safeguards to ensure legitimate businesses are protected. There is an appeals procedure.

FTI chairman Mark Cook said the FTI would now serve an injunction against the Government to prevent the joint and several liability clause of the Finance Bill becoming enactable.

The Governments approach is misconceived. Our counsel believes the new VAT directives are not in line with European law.

The proposed new legislation now awaits a date to become law without any amendments. A House of Lords Select Committee report has recommended Customs officers with suspicions about a trader should first take the case to a VAT Tribunal to decide culpability. Customs would have to prove traders were guilty of fraud before issuing assessments.

The Finance Bill has passed through all Parliamentary stages. A date for the bill to be granted Royal Assent is to be set before Parliament goes to reces