[2008] EWCA Civ 174.

Court of Appeal (Civil Division).

Laws and Rix L JJ and Sir John Chadwick.

Judgment delivered 7 March 2008.

Value added tax – Assessment – Tour operators' margin scheme (TOMS) – Annual adjustment – Whether assessment relating to annual adjustment of TOMS caught by three-year cap – Revenue raising assessment on basis that taxpayer had incorrectly accounted for VAT supplies in accounts – VAT tribunal holding adjustment outside three-year limitation period – Whether Revenue entitled to assess for under-declaration of annual amount – Value Added Tax Act 1994, s. 77(1)(a).

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