April 14, 2021

Offshore clampdown continues as HMRC protects £365m

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By Fraser Simpson From AccountancyAge THE BATTLE between HMRC and offshore tax schemes continues, with the taxman claiming victory in a first-tier tribunal against a Cayman-registered company, protecting £365m of taxpayer money. HMRC disputed the intentions of the Clavis Liberty Fund 1 LP scheme, which created an artificial tax loss for its 99 investors. Clavis […]

HMRC claims billion pound week with win against Jersey firm

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By Richard Hubbard From International Adviser The UK tax office has won a judgement against a limited partnership registered in Jersey, the Clavis Liberty Fund 1 LP scheme, which it claimed had tried to create artificial tax losses. HM Revenue and Customs (HMRC) said on Friday it had protected £365m ($524m, €465m) in tax after […]