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VAT ruling favourable for small businesses

Language: English Series: Financial Times ; 28 July 1992, 6(1)Publication details: 1992Subject(s): Summary: The Court of Appeal found that an electrical contractor was not able to pay VAT, which was due, accepting as a `reasonable excuse` the fact that the contractor`s chief customer had paid late. The decision is welcomed by the Federation of Small Businesses.

The Court of Appeal found that an electrical contractor was not able to pay VAT, which was due, accepting as a `reasonable excuse` the fact that the contractor`s chief customer had paid late. The decision is welcomed by the Federation of Small Businesses.