TaxPersonal TaxRevenue drops ‘retrospective’ aspect of 660 case

Revenue drops 'retrospective' aspect of 660 case

At the eleventh hour, the Inland Revenue has withdrawn the 'retrospective determination' or amount taxable for the past five years in the landmark 660A case between the regulator and IT consultant Geoff Jones.

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.

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