More than 150 members of Ingenious Media scheme labelled as tax avoidance by HMRC fail in bid to overturn new rules imposed by George Osborne
More than 150 wealthy investors in controversial film investment schemes, which HMRC says amount to tax avoidance, have lost a human rights challenge to new powers tax inspectors have been deploying to demand upfront payments.
George Osborne last year granted HMRC powers to demand disputed tax, even if agreement over sums owing had not been reached. At the time he said removing from aggressive tax planners the financial benefits of drawn-out disputes would “fundamentally reduce the incentive to engage in tax avoidance”.
Source: The Guardian Circular Economy RSS