October 2010
Emblaze Mobility Solutions Limited, represented by TKP, has been successful in its 4 year legal challenge against the decision of HMRC to withhold £8.8 million of VAT repayments claimed since March 2006
Emblaze Mobility Solutions Limited, represented by TKP, has been successful in its 4 year legal challenge against the decision of HMRC to withhold £8.8 million of VAT repayments claimed since March 2006.
Emblaze challenged HMRC's decision to withhold VAT repayments of £8.8 million of VAT due on 33 transactions undertaken in 2006 by Global Telecoms Distribution Plc t/a European Telecom, a former subsidiary of Emblaze Mobility Solutions Limited.
The Tribunal ordered HMRC to repay the £8.8 million it has withheld since March 2006 as well as Emblaze Mobility Solutions' legal costs. HMRC still have the right to appeal against the decision.
The Company estimates the net cash proceeds to be approximately $US 7 million (having deducted legal and other expenses and third parties' share).
Please see the press release below: