Yesterday five law lords reversed a court of appeal hearing that had ruled in favour of taxpayers using the schemes to lower payments to the Inland Revenue.
‘Flip-flops’, also known as ‘the two settlement route’, were oft employed during the 1990’s by using two separate trusts with a loan arrangement between them.
The schemes eventually died out and yesterday’s case – Trennery v West – had worked through the courts for several years, according to a report in the Financial Times.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy