James Puzey successfully resists appeal by subsidiary of American Investment Bank, Cantor Fitzgerald

Jim Puzey
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James Puzey, Head of St Philips Regulatory Team, led the HMRC counsel team that was successful in resisting this appeal by the subsidiary of the American Investment Bank, Cantor Fitzgerald.

The Taxpayer was represented by Nicola Shaw QC and Michael Jones QC. The Court of Appeal held that VAT could not be reclaimed by a purchaser in the absence of a compliant VAT invoice or suitable alternative evidence that the requirements of a compliant VAT invoice had been fulfilled.

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