HM Revenue & Customs (HMRC) has won its 10th successive case against NT Advisors as the Court of Appeal ruled the firm's latest scheme consisted of "a series of circular payments designed purely to generate tax deductions with no genuine commercial purpose".
HMRC director general of enforcement and compliance Jennie Granger said: "HMRC has a 100% success record against NT Advisors in the courts. If you are currently using one of their schemes, or any other avoidance scheme, we will help you get out if you get in touch with us." The latest ruling, covering 304 users, will protect £143m for the UK. In total now, HMRC said it had 'protected £916m in tax' from the firm's schemes. Commenting on the ruling, BDO Tax Dispute Resolution partner Dawn Register said: "This is a another big win for HMRC, which sends out a clear and strong message th...
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