THE ESTRANGED WIFE of a property and telecoms tycoon has claimed HM Revenue & Customs engaged in corporate corruption during the couple’s divorce proceedings.
Michelle Young, the wife of businessman Scot Young, made the claims after she said the agency gave her husband “bizarre” support which she alleges cost the taxpayer millions of pounds.
Mrs Young levelled the allegation when HMRC lawyers said they would “vigorously oppose” measures to terminate the bankruptcy of Mr Young in 2010, the Independent reports.
Lawyers for Mrs Young hold that the insolvency is false and has been used to impede the divorce proceedings. She applied to annul the bankruptcy but Christopher Buckley, for HMRC, said: “We will be opposing this very vigorously.”
Mrs Young claims that her husband hid £400m in offshore tax havens before they split in 2006, and alleges that his friends, who include Topshop owner Sir Philip Green and restaurateur Richard Caring, are a “conduit for his secreted wealth”.
HMRC said in a statement that it “maintains the highest standards of honesty and integrity at all times in dealings with all its customers”.
“We strongly reject any comments suggesting otherwise,” it added.
HMRC has outlined a change in VAT policy to the treatment of dwellings that have been formed from either the construction of new buildings, or from the conversion of non-residential buildings
Let us hope that valuable asset protection vehicles are not made prohibitively burdensome or abolished in the desire to “simplify” IHT
The government is pressing ahead with changes to the way it taxes individuals with a foreign domicile
I will feel slightly awkward when I write to the client who is about to receive a large invoice from the PAYE expert, offering him the fee protection going forward