Press Releases • Jul 20, 2017 12:57 BST
HM Revenue and Customs has won a legal battle against a tax avoidance scheme, which claimed £122 million was spent on research into brain disorders, when only £7 million of it reached a genuine research company.
Press Releases • Jul 23, 2015 12:30 BST
HM Revenue and Customs (HMRC) has defeated an artificial tax avoidance scheme involving the Brain Disorders Research Limited Partnership and Neil Hockin (a partner), after the First-Tier Tribunal ruled against the users’ attempts to claim £29 million in tax relief. The investors claimed to have spent £122 million on research, when in fact only £7 million reached the genuine research company.