Andrew Goldstone and Sarah Albury (Mishcon de Reya) review the latest developments that matter in the private client arena, including: HMRC’s hat trick of wins in cases against schemes promoted by NT Advisors; a consultation on VCTs; Lobler and rectification for the partial surrender of insurance policies; online filing of IHT accounts from August; and Tager and punitive tax-related penalties
HMRC has won three separate anti-avoidance cases in the UT against a scheme promoted by NT Advisors (see Healey v HMRC [2015] UKUT 0140 (TCC); Savva v HMRC [2015] UKUT 0141 (TCC); and Steve Price John Myers and James Lucas v HMRC [2013] UKFTT 297 (TC)). This is HMRC’s ninth win against schemes promoted by NT Advisors. The scheme sought to create an investment return that would be...
