Breaking news from the BBC Paper tax returns to be replaced by digital by 2020

Read more...

Chancellor George Osborne delivers his last budget before the General Election

Read more...

Tax planning for 5 April 2015

Read more...

HMRC claim over £1billion in tax avoidance saved.

Read more...

HMRC new taskforces

Read more...

January 2012 Key Tax Dates

Read more...


Contact Us

News Items

Tax Tips

Brilliant with numbers
Great with people
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals


Helping Your Business is Our Business


Call us now on 023 8083 6900 ABDS Home

Tax Tip

HMRC tackle three corporate avoidance schemes.

HM Revenue and Customs’ (HMRC) have announced three new major legal victories over corporate tax avoidance schemes, protecting over £100 million of tax.

The first is a Court of Appeal win concerning an avoidance scheme used by a number of large businesses. The lead case was Vocalspruce Limited, and there were 43 follower cases – a combined total of £85.4 million of tax was at stake. A number of other users of the scheme have already settled with HMRC, protecting a further £65.7 million.

The second involved an Upper Tribunal decision in favour of HMRC involving Fidex Ltd, a subsidiary of the global banking group BNP Paribas – a ruling which protects £17.2 million in tax.

The third case was found for HMRC against one of the UK’s biggest waste management companies, Biffa Group, by a First-tier Tribunal. . Biffa’s case, along with two other cases on use of the same scheme, involves around £15 million of tax. More than £16 million had already been settled by other users of the scheme ahead of the litigation.

Financial Secretary to the Treasury David Gauke said:
“The message coming out of these cases is clear – entering into a tax avoidance scheme can be complex, expensive and cause extensive reputational damage for the companies involved.”

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“These three cases show how determined HMRC is at pursuing, even as far as the law courts, any schemes that deprive the UK of its rightful tax revenue, in fact, HMRC has an 80% success rate in its litigation.”

If you need any help and advice with VAT or other tax matters, contact Lavinia Newman Stuart Coleman or Liz Kennett now to discuss how ABDS can help bring their experience to these matters.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients and
mindful of their long term strategic goals

Helping Your Business is Our Business

« Back to Tax Tips