tax bill / 2 posts found
Football agent scores massive own goal
HMRC were quick to publicise their victory in a recent tax case that resulted in a well-known football agent facing a £1.2m tax bill. According to their press release, former football agent Jerome Anderson lost his £1.2 million tax battle with HMRC during a case heard at the Upper Tribunal. This showed that Anderson and eight others failed in their attempt to avoid large amounts of tax. The scheme involved investments in the recruitment and training of young footballers at the Bafana Soccer Academy in South Africa. Anderson attempted to use this investment to claim a £3 million artificial [...]
Penalties to be points based
Drivers face disqualification from driving if they accumulate 12 or more penalty points for driving offences. The resulting ban can last from 4 to possibly 11 years depending on the gravity of the offence. HMRC seem to think that this point based system is a good idea and they now intend to include draft clauses to the forthcoming Finance Bill that will introduce a points system covering the late filing of tax returns. In their notes attached to the draft clauses HMRC say: The government wishes to encourage compliance with regular return submission obligations but does not [...]