Investors are likely to have greater difficulty trying to exploit tax avoidance structures in the future following the Supreme Court decision of HMRC v Tower MCashback LLP. What happened? MCashback developed new software and approached Tower Group PLC for funding. Via a number of newly formed LLPs, investors paid 25% of £143 million to buy [...]
Five plumbers have been arrested whilst another six hundred are under civil investigation according to HMRC – with some owing up to £150,000 for failing to declare taxable income. These are the results of a campaign launched by the Revenue in May 2011 when over 40,000 letters were sent to businesses urging them to bring [...]
HMRC have updated their Litigation and Settlement Strategy – first published in 2007 – seeking to increase the use of collaborative methods to resolve tax disputes. The updated version does not appear to make fundamental changes and retains the stance of avoiding ‘package deals’ and ‘splitting the difference’ in all or nothing disputes. HMRC have [...]
