Transact parent company to challenge £8m VAT ruling upheld by HMRC

Shares hit four-year low

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IntegraFin expected to write large cheque to the taxman
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IntegraFin expected to write large cheque to the taxman

Transact's parent company IntegraFin Holdings has revealed HM Revenue & Customs (HMRC) will uphold its original decision to terminate subsidiary Integrated Application Development's (IAD) membership of a UK VAT group.

IntegraFin said it will contest the UK revenue authority's decision, which was first imposed in January 2020, terminating the membership of its unit with effect from 16 July 2016. It is looking to ...

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