Market News

RETRIEVE YOUR FUNDS FROM FCIB

Following the closure of First Curacao International Bank (FCIB) in October 2006, many traders had their funds trapped there and it has been extremely difficult to retrieve the funds.

If you have significant funds still in FCIB, please call Anthony on +44 (0) 7721 326 156 or email Anthony@thirddimension.co.uk to discuss options for retrieving your funds before it is too late.

iVisions' new steps towards internationalization


After establishing a strong foothold in the French market we now want to widen our operational landscape by dedicating our effort towards an expansion to the German market with our local subsidiary, iVisions GmbH.

We commit ourselves to our prevailing international customer base as well as to satisfy the local demand in Germany. In order to strive for global excellence we rely on our highly...

Significant Judgement from Upper Tier VAT Tribunal

The upper tier tribunal has released a significant judgement which will impact appeals filed before 2009 Rules.


Relevant extract from Judgement - Click Here for more information


Full judgement - Click here for full original judgement


If you would like more details contact IPT

European Update on VAT Cases - Bonik EOOD


CTM has been informed that the first of the ECJ references will be heard on 16 March 2012, less than 6 weeks away. These relate to the above two companies and may have a direct impact on UK MTIC appeals.

We believe that the Bulgarian case of Bonik EOOD is likely to be listed soon after. This clearly deals with the “connected with” argument.

If you would like to discuss the importance...

The Latest VAT Tribunal Cases

Hi all, this is for information.


To assist you find the latest decisions we have found the links.


Click the links below to see the decisions of the relevant cases:







TARLO WORLDWIDE LIMITED


Full Decision Link - Click Here



H T PURSER LIMITED
Full Decision Link - Click Here



DI & GI ELECTRONICS LTD
Full Decision Link - Click Here



CROTEK LIMITED
Full Decision...

Visit the IPT / IGT Area - HALL 14 - H60


If you need FREE tickets email all details to - ed@ipt.cc


See you all in Hannover!

EARLY SUCCESS FOR TRADER IN 2012 GIVES SOME HOPE TO OTHERS

Tribunal gets it just right

January 2012 saw a trader successfully win a means of knowledge appeal in Tribunal, with the Judge appearing to recognise that it should be difficult for HMRC to win such cases. This follows on from CTM’s back to back successes for 3 traders in 2011; 3 as a result of the conclusion of length trials and a fourth where HMRC repaid 50% of a repayment...

Warning - Attempted Cloning - Facet Europe BV

Dear All,

It has come to our attention that currently there are people trying to act on behalf of our company, sending around our company documents and asking for credit lines.

We ask you to thoroughly check the mail address and name this mail is coming from, and urge you to call us directly on our office number, which is +31 79 330 1630.

Your phone call will be answered by our lovely office...

Warning - Cloned Companies

We have seen proof of another cloning attempt.

We advise you to make sure you know who you are dealing with as these people will use REAL companies but change documents and give different contact details.


Take references - and check those references.

Please be very careful. If you have not heard of the company before be even more suspicious.

You must do logical due diligence to check the person who claims...

WARNING - Globe Trader (Int.) Ltd has been CLONED

Please be aware that we think our company (Globe Trader (Int.) Ltd) and our company documents have been used without our permission for deals. I.E our company has been cloned.

Please do not undertake any deals with our company until further notice– as you are not dealing with the real owners and we cannot be liable for these deals.


If you have any questions or information about...

Carbon Trading Permits - VAT fraud gang jailed

By Jonathan Russell, Assistant editor

VAT fraud gang jailed

Three Britons are among six people jailed by a German court for a total of 29 years for evading taxes on the sale of carbon trading permits.

The court found the men guilty of dodging €300m (£250m) in VAT over an eight-month period through what is known as “carousel fraud”. By importing emissions permits without...

£250 million fraudsters jailed

HM Revenue & Customs (National)

The 15th member of a gang involved in a £250 million VAT fraud using the supposed import and export of mobile phones, has been jailed today for nine years. Multi-millionaire Nasir Khan’s assets of £15million have also been restrained for his part in one of the UK’s largest ever ‘missing trader’ frauds.

Fourteen other career criminals...

Eight arrested in VAT fraud investigation

Eight people have been arrested during early morning raids across Lancashire, Leicestershire, Cornwall and Kent by officers from HM Revenue & Customs (HMRC) investigating a suspected European-wide ‘missing trader’ VAT fraud involving mobile phone and electronic communications trading.

HMRC investigators carried out searches of 20 business and residential addresses in Preston, Blackburn,...

Squeezing trade


07 Dec 2011, sara yirrell , CRN

Trade has been the backbone of the UK economy for hundreds, if not thousands, of years.

In fact, a recent joint report by the CBI and Ernst&Young claimed the government needs to increase net exports to 2.5 per cent by 2016 to stimulate the economy, which could eventually see £20bn added to UK plc’s bottom line.

So why is it that mobile phone and computer component (CPU)...

CONTACT YOUR MP TO REQUEST HELP AGAINST HMRC ABUSE OF PROCESS

You will all be aware of the gross injustices that are being perpetuated by HMRC and the Tribunal system against the trading sector.
During the past few years, I have been trying to highlight to my MP the abuses of process by HMRC in the VAT Tribunals. David Heath MP used an amendment to the HMRC Charter in Parliament in 2009 to question the Treasury Minister. David is now a minister...

CTM SUCCESSFULLY STAND TWO APPEALS BEHIND HUNGARIAN AND BULGARIAN ECJ CASES

ASSISTING TRADERS IN CRIMINAL AND CIVIL CASES

Upper Tribunal agrees that ECJ cases may have effect on UK appeals Further to our earlier Newsletter regarding Applications to the Upper Tribunal to stand over appeals behind European cases, we are extremely pleased to report that the decision was released today and Judge Bishopp agreed with the traders’ request....

Ex-policeman collared in UK’s largest ever VAT fraud

A former policeman from South Yorkshire has been jailed for 10 years and three months today for his part in an attempted £330 million VAT fraud - the largest of its kind in the UK. He and five others were caught by investigators from HM Revenue & Customs (HMRC) after they claimed their new business, Ideas 2 Go Ltd, had sold more than six million mobile phones and had a turnover...

BlackBerry Messenger vs Apple iMessage (ios 5)

By Paul Briden - Published on Oct 14, 2011

We take a look at Apple's new iMessage service from iOS 5 and see how it compares to RIM's well-entrenched BlackBerry Messenger

RIM's BlackBerry Messenger pioneered the whole 'integrated messaging' service, which Apple – in true Apple-style – has now imitated with iMessage on iOS 5.

The premise is fairly simple, you can send messages...

WARNING about Mr Sarj Lakhani – Recent Insurance Policy Problems


Dear All


Please be aware that Mr Sarj Lakhani who has previously been representing R.A. Insurance Brokers Limited as an employee is now no longer employed by R.A. Insurance Brokers Limited. Please also note that he is currently under investigation.


We have been informed that Mr Lakhani has recently arranged some insurance policies & covers generally in the...

Express Computers/Hillcraft Trading Win “Means of Knowledge” Appeal
September 2011 Newsletter - Liban Ahmed

Express Computers/Hillcraft Trading Win “Means of Knowledge” Appeal CTM has successfully recovered VAT in an appeal that was a hard fought battle from start to finish. The hurdles to overcome included all the usual allegations, such as circularity of funds, tax losses in each supply chain, no insurance, contrived...