HMRC fights to close Bolt’s VAT loophole
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Bolt is in court against HMRC over its VAT calculation, specifically whether it can use the tour operators’ margin scheme (TOMS). HMRC argues Bolt doesn't qualify, while Bolt has won previous appeals. The case is significant as it parallels HMRC's ongoing dispute with Uber over a £1bn VAT bill. Black cab drivers have urged the government to close the tax loophole for ride-hailing apps. A ruling is expected after the hearings on Tuesday and Wednesday.
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