A VAT tribunal has come down in favour of the Lowcosttravelgroup, which was attempting to recoup up to £2 million in tax from HMRC when it collapsed last year.

The First Tier Tribunal ruled that both Lowcostholidays and Lowcostbeds were acting as hotel agents, so were not liable to pay VAT in the UK under the Tour Operators Margin Scheme.

More information here

Courtesy of Travelmole