Arctic judgment is 'common sense'
Anne Redston of CIoT gives her verdict on the notorious family-owned businesses tax case
Anne Redston of CIoT gives her verdict on the notorious family-owned businesses tax case
The Arctic judgment is ‘common sense’, an adviser closely associated with the
Arctic Systems case has said.
Speaking outside the House of Lords, where a judgment in the Joneses favour
was delivered this morning, Anne Redston of the CIoT, who has been following the
case more closely than almost any other adviser, said she was ‘delighted’: ‘The
Lords have seen common sense, and good judgment has prevailed. The only
disappointment is that it has taken so long and created so much uncertainty.’
Keith Gordon, who represented the Joneses, said: ‘The judgment is clearly
good news for the Joneses and the hundreds of thousands of couples who work in
family owned businesses.
‘At each stage Mr and Mrs Jones could have just paid the tax demanded and
thrown in the towel. However, they decided to stick to their guns and stood up
for family owned companies.’
Further reading:
Taxpayers celebrate epic
Arctic Systems victory
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceThe amount of tax saved by businesses through HMRC’s Patent Box scheme has increased by 23% over the last five years, from £1.14 billion in 2017/18 to...
View articleUK Chancellor Jeremy Hunt has hinted at the possibility of further tax cuts in the upcoming spring Budget, during his time at the World Economic Forum...
View articleThe legislation, which introduces a global minimum tax of at least 15% for multinational enterprises, aims to limit tax competition and ensure large c...
View articleThe upcoming tax changes in 2024 will significantly impact businesses and individuals in the UK. Accountants play a crucial role in helping clients na...
View articleAccountants must stay vigilant, adapt their tax strategies to evolving regulations, prioritize transparency, and foster collaboration with tax authori...
View articleAs the government prepares for re-election, PM Sunak promises to control spending in order to bring forth tax cuts next year Read More...
View articleThe Office for National Statistics revealed that the UK economy shrank by 0.3% in March after the economy grew by 0.1% in the previous three months Re...
View articleAs the Spring Budget approaches, dissenters of the UK government’s increasingly complex contractor legislation are baying for change. HMRC has already...
View article