Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Do it my way

28 April 2015 / Mark McLaughlin CTA (Fellow)
Issue: 4498 / Categories: Comment & Analysis , Admin , Business , Policy
mclaughlin_rexfeatures_425514c

Are HMRC seeking to influence the structure of business deals?

KEY POINTS

  • Statutory and non-statutory clearances can give rise to unexpected challenges from HMRC.
  • Is the main purpose of the transaction commercial or to obtain a tax advantage?
  • A clearance applicant can require HMRC to refer to the tribunal.
  • Evidence to support the transaction could prove crucial.

Dealing with HMRC might at times seem analogous to footballers who had differences of opinion with Brian Clough.

An interviewer once asked him “How do you react when someone from your playing staff comes and says ‘Boss I think you’re doing this wrongly’?”

He replied: “I ask him which way he thinks it should be done. We get down to it and then we talk about it for 20 minutes and then we decide I was right.”

Tax is so riddled with uncertainties...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

back to top icon