What a to do

THE SETTLEMENTS LEGISLATION has been a source of worry and concern for practitioners and their clients particularly since April 2003 when an Inland Revenue Tax Bulletin was released showing that the revenue authorities considered it applied in a way far broader than many had ever imagined. Since then there has been the case of Jones v Garnett [2005] EWHC 849 colloquially known as Arctic Systems which has gone in favour of HMRC at both the Special Commissioners and the High Court. The case was appealed again and will be heard in mid-January 2006. However many will have clients with similar tax affairs to Mr and Mrs Jones. How should they self assess by 31 January 2006 for the tax year ended 5 April 2005? What do they need to disclose? What is the right route to take?
In order to help in the decision-making process...