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.
Press Releases • Feb 17, 2015 14:44 GMT
The Court of Appeal today ruled in favour of HM Revenue and Customs against Eclipse Film Partners (No 35) LLP, protecting an estimated £635 million in tax.