TC09617 - [2025] UKFTT 01018 (TC)

Deos was incorporated, and registered for VAT, in 2017. At times relevant to these appeals, Mr Smith was group managing director, and Michelle Stoneman, Mr Smith’s partner (in the personal sense), was the sole company director; the business reality was that Deos was run by Mr Smith and Ms Stoneman.

Deos’ core business, which dated back to the late 1970s when it was started by Mr Smith’s parents, was selling and leasing office equipment, such as photocopiers, furniture, printers and office supplies. At relevant times, it had a staff of about 17 people. It operated from a medium sized unit on a small industrial estate: an office block with an adjacent warehouse facility containing office equipment and stock – photocopiers, furniture etc.

Deos’ turnover and profit, per its accounts, in the four years ending 31 March 2022, were as follows: