In Euro Systems (Scotland) Ltd [2019] TC 07438, the First-tier Tribunal considered an appeal against an assessment made to best judgement, based on a comparison of statutory account figures with the VAT returns submitted. The FTT confirmed the methodology in using the Profit and Loss account figures to quantify the input tax and output tax on a global basis was sound but, in this instance, to also assess on balance sheet differences was duplication. Appeal allowed in part.

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