Andrew Goldstone (Mishcon de Reya) believes that a recent case raises concerns over HMRC’s approach to litigation and illustrates the need for change in the EIS legislation.
The case of R Ames v HMRC [2018] UKUT 190reveals various issues concerning HMRC’s approach to decision making and litigation and the need for a change in EIS related legislation.
Case summary
In 2005 Mr Ames an experienced skydiver invested £50 000 for a 12% minority shareholding in a start-up indoor skydiving company. For two years Mr Ames worked tirelessly as a director of the company to set up the business working closely on the building’s design and construction gaining necessary consents and licences managing working capital finances and accounts and planning for the development of the business. After many years his investment paid off and by June 2011 Mr Ames had sold his shares for...
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Andrew Goldstone (Mishcon de Reya) believes that a recent case raises concerns over HMRC’s approach to litigation and illustrates the need for change in the EIS legislation.
The case of R Ames v HMRC [2018] UKUT 190reveals various issues concerning HMRC’s approach to decision making and litigation and the need for a change in EIS related legislation.
Case summary
In 2005 Mr Ames an experienced skydiver invested £50 000 for a 12% minority shareholding in a start-up indoor skydiving company. For two years Mr Ames worked tirelessly as a director of the company to set up the business working closely on the building’s design and construction gaining necessary consents and licences managing working capital finances and accounts and planning for the development of the business. After many years his investment paid off and by June 2011 Mr Ames had sold his shares for...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
