Since the release of the Tribunal Decision in the Livewire appeal, a large number of businesses have contacted us seeking our advice on the overall merits of their case and asking us to assess their prospects for success. As a result of the protracted nature of the extended verification policies implemented by HMRC, a proportion of these companies have been starved of funds for many, many months, so one of the first questions we, as professional advisers are asked is, inevitably, “How much is this going to cost me?”
Clearly, the sums of VAT withheld or denied will vary from business to business, as will the ability of the business to fund the costs of proceeding further to an appeal. It is our experience that the only way Appellants stand a reasonable chance of success in the VAT Tribunal is for every aspect of the case to be addressed and properly prepared during the months which precede a hearing, which means that no shortcuts are taken. Naturally, to do all of this work properly and in good time before the start of a hearing costs money.
Vantis’ fee structures are sufficiently flexible to enable us to accommodate the individual needs of most clients - provided of course that there is merit in taking the case before the Tribunal. We have recently been in discussions with a leader in the field of litigation funding and consequently we are now in a position where we can add this option to our range of fee structures. This means that an independent company will fund the costs of taking suitable cases to an appeal, in return for a proportion of any monies recovered from HMRC in the event of a successful outcome.
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