Her Majesty's Revenue & Customs (HMRC) said it has prevented some £200m from being diverted from the Exchequer after winning three court decisions against tax avoidance schemes.
HMRC said it hoped the results, which may be subject to appeal, send "a very clear message" that it will tackle efforts to avoid paying tax. The first case, against 'Schofield' and heard in the Court of Appeal on 11 July, involved a business owner using a tax avoidance scheme to create an artificial loss on his sold business, even though it had actually made him a £10m profit. HMRC said he paid £200,000 to be involved in the scheme. Another case against Sloane Robinson Investment Services, heard in the First Tier Tribunal on 16 July, saw the company's directors attempt to avoid a comb...
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