HM Revenue & Customs (HMRC) has protected up to £123 million in tax after a tax tribunal upheld a landmark ruling against a stamp duty land tax avoidance scheme.
In July 2013, the HMRC won a case against Project Blue, which used the scheme. According to the HMRC the scheme attempted to...
As well as the offshore angle this announcement also made. Will be some nervous individuals I would think.
3. Section 45 of the Finance Act 2003 provides, broadly, that there is
only one charge to SDLT where the purchaser of an interest in land,
before completing that purchase, sells on the...
Well Greece are so I guess it is possible outside of football but despite its reputation to the contrary Financial Services to tend to protect the customer more.
Not so easy to wriggle out of it if you are a regulated company though (I am assuming these will have been recommended by the less reputable Solicitors/Accountants).
BBC News - Budget: Osborne pledges measures on stamp duty avoidance
I hope people who have been advising their client to do this have good PI insurance.
Recovery by assessment is possible up to 6 years from the date of completion. If SDLT is not paid due to fraud or negligence the enforcement period is up to 21 years.
I am talking from 25+ years experience in financial planning and have seen many artificial schemes come and go and it is usually the client that pays. The latest "pension unlocking" scam will go the same way any day now. HMRC are under a lot of pressure to recover leaking taxes and will come...
Absolutely this. Those taking part in these artificial schemes don't be surprised when HMRC come knocking for their pound of flesh. And don't be surprised if your promised fee refund doesn't materialise either.