“The NFDA is encouraged by the recent ruling from the Court of Appeals on VAT refunds”, said Sue Robinson, Director of the National Franchised Dealers Association (NFDA), which represents franchised car and commercial vehicle retailers across the UK.
Robinson continued, “The decision in favour of Littlewoods challenges HMRC’s position of paying only simple interest, rather than compound interest on VAT refunds. Many dealers have submitted claims because of this case and so Littlewoods’ victory is very welcome.
“However, we are only at the beginning of a process that still has a long way to go. HMRC have appealed the decision, and the case is likely to end up before the Supreme Court.
“If dealers have any questions or want to discuss these issues they are welcome to contact the NFDA.”
ENDS
NOTES TO EDITORS:
Susan Pollock, Research Officer
Direct: 020 7307 3424
Fax: 020 7307 3406
Web: www.rmif.co.uk Email: susan.pollock@rmif.co.uk
The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.
