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Jelley wobbles (again)

10 June 2009 / Mark Rowland
Issue: 4209 / Categories: Comment & Analysis , Capital Gains
MARK ROWLAND is aghast at HMRC’s late change of heart over capital gains tax on pre-April 2003 employee share options

KEY POINTS

  • HMRC have received legal advice that the old guidance is wrong.
  • Review of competence of HMRC handling of its interpretation of a tax case.
  • Millions wasted in tax time and effort and still more to waste.
  • Practical guidance on the impact of the new guidance.

What was the most astonishing news in the week commencing 10 May 2009?

The expense claim for the moat interest on a non-existent mortgage or sacks of horse manure?

For me it was none of these; instead it was the publication of Revenue and Customs Brief 30/09.

The brief is an admission of how inept HMRC have been for the last six years and how their interpretation of a tax case has cost this country millions much much more than all of the MPs’ expense claims put...

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