HM Revenue & Customs (HMRC) has won a key court case defeating a widely-marketed scheme to avoid stamp duty land tax. The decision, subject to any appeal, could save more than £170 million for the UK Exchequer.
According to HMRC's latest update, regulations have also been laid that will force users of a wider range of stamp duty land tax (SDLT) avoidance schemes to disclose them to HMRC.
They say that the new rules will give HMRC much better access to information about these avoidance schemes and those who promote and use them. This means that they can then be challenged and closed down more quickly.
HMRC's Director General of Business Tax, Jim Harra, said: “This victory at the First Tier Tribunal sends a clear message to tax avoiders that we will challenge avoidance relentlessly. The decision is good news for the vast majority of taxpayers who pay, rather than try to dodge, their taxes. It shows that the courts will see through arrangements which are put in place just to avoid tax.
“People who are tempted by tax advisers to enter into avoidance schemes should think twice and not be driven by greed into signing up for schemes that are just too good to be true.â€
September 21, 2012
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
To arrange a meeting with one of our expert mortgage advisers complete our enquiry form or mortgage questionnaire and we will call you back. Please note, by submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements.
You voluntarily choose to provide personal details to us when submitting an enquiry. Your information is confidential and held in accordance with the appropriate data protection requirements. Read Trinity Financial's privacy policy.
We believe that working together is the best way to gain trust, reliability and certainty.
We had the pleasure of working with Jed on our mortgage. He guided us patiently and efficiently through any questions we...
We had the pleasure of working with Jed on our mortgage. He guided us patiently and efficiently through any questions we had and was always on hand to offer great advice. Excellent service and highly recommended!
More
Less
Cindy KoewandhonoAug 12 2024
Very happy with the exceptional service. David has demonstrated a high level of professionalism and expertise...
Very happy with the exceptional service. David has demonstrated a high level of professionalism and expertise.
More
Less
Marzena FranekAug 05 2024
We were looking for mortgage broker for our housing mortgage. Looked through some online brokers but decided to go with ...
We were looking for mortgage broker for our housing mortgage. Looked through some online brokers but decided to go with Trinity Financial.
Sophie was handling our case and because of her promptness we could secure the best rate at that time for us. Definitely recommend their services to anyone looking for a housing mortgage!
More
Less
Charusheela BopardikarJul 22 2024
15
years' experience
Over the last 15 years we have helped thousands of clients to purchase new homes, secure buy-to-let mortgages and remortgage.
23
mortgage experts
Trinity’s experts will do everything possible to secure the fastest mortgage offers while providing you with regular progress updates.
17,844
mortgages arranged
We consistently arrange fantastically priced fixed and tracker rate mortgages through the leading banks and building societies.