A tax avoidance scheme which routed profits of a tax advisory business through employee benefit trusts has been closed by a tribunal.
HM Revenue and Customs (HMRC) challenged tax deductions of almost £9m which tax adviser John Dryburgh's companies, Scotts Atlantic Management and Scotts Film Management, paid into employee benefit trusts. The payments came out of profits earned by selling tax avoidance film schemes. The tribunal decision, which denied the claimed deduction, has protected £2.4m of tax. The Tribunal said: "There is no doubt that Mr Dryburgh not only lied to the Tribunal in a material way, but he appeared also to have fabricated evidence, forged documents and thrown away a memory stick in order to destro...
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