The long-awaited decision that will decide the future taxation of hundreds of thousands of husband and wife businesses will be heard at 11.30am at the High Court today.
The decision will finally end the Section 660A settlements legislation case between the Inland Revenue and Arctic Systems, run by Geoff and Diana Jones. It is set to last around an hour.
In September, Geoff and Diana Jones came in front of Revenue special commissioners, to contest a £6,000 bill – reduced from £42,000 – but controversially lost their legal battle in front of special commissioners when the two commissioners involved could not agree on a verdict.
The case ended with the casting vote eventually being used in favour of the Inland Revenue.
According to the Professional Contractors Group, the outcome could have huge implications for hundreds of thousands of husband and wife businesses. The case is being funded by the PCG, with the legal and advisory team including Malcolm Gammie QC and Dave Smith from Accountax Consulting.
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