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Common goal

28 August 2012 / Richard Curtis
Issue: 4368 / Categories: Comment & Analysis , Business , Income Tax
Can lessons can be learned from a recent First-tier Tribunal decision on a joint venture, asks RICHARD CURTIS

KEY POINTS

  • A business develops from an informal agreement.
  • The importance of written documents reflecting reality.
  • The right of appeal under VATA 1994 s 83.
  • Was there a joint venture or a supply of services.
  • Lessons to be learned from hindsight.

Tax practitioners should I suppose be interested in the most prominent tax cases of the day.

As an example HMRC are currently crowing about how they have won a hat-trick of ‘gold’ in the three recent cases of Schofield Sloane Robinson Investment Services and Barnes.

If we are to believe the press release the department has saved approximately £200m tax that various taxpayers were seeking to ‘divert’ from the UK Exchequer by the use of tax-avoidance schemes.

That’s all very well and interesting ...

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