Link: Husband and wife tax case underway today
According to a Professional Contractors Group spokeswoman, the Revenue will now only be investigating one year’s back-tax. She said: ‘The Revenue has not explained why it has done this but this changes the case substantially.
‘It means that the Jones’s tax bill could be a lot lower than previously estimated. Obviously you have to remember that this is a test case and could set a precedent, however, I expect it won’t.’
Arctic Systems, run by Geoff Jones and his wife Diana, case came to public attention after it was hit by unexpected demands for six years back-tax on dividends amounting to £42,000 they had taken from their business.
The case is expected to come to a conclusion either on Tuesday or Wednesday, while a written judgement will be announced at a later date.