Poundland wins £2.15m HMRC VAT case

The high street retailer Poundland has won a £2.15m VAT case against HMRC regarding a stock adjustment dispute on the group’s switch from its old bespoke retail scheme

The First Tier Tribunal (FTT) ruled in favour of Poundland that its bespoke retail scheme was not fundamentally flawed because it had no provision for a closing stock adjustment. It also found that HMRC could not impose a variation of the scheme without the agreement of the appellant.

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