Chris Moyles, who’s had some dodgy tax dealings lately, has seen the advisors he used lose their fifth tax avoidance case.
NT Advisors latest failure means that the total amount of tax HMRC had to protect from their schemes totals £750m.
One of their schemes, which was used by the Moyles and involved pretending to be second-hand car dealers, was called “working wheels”. Unsurprisingly, the courts decided this wasn’t acceptable.
Their total of rubbished schemes was brought to five when one called “blue box” was thrown onto the scrap pile. This scheme involved funneling money through a charity to a Jersey trust to avoid paying any tax. Again, it is easy to see why this was not considered allowable.
HMRC has managed to raise some money through the process with three individuals already stumping up £24m, with 60 more still to pay up.
Treasury financial secretary, Nick Morgan said: “The government has provided charitable tax reliefs to encourage people to give to charities. We will not tolerate abuse of these incentives for the purpose of tax avoidance.”
“This was another scheme that wasn’t worth investing in and, as well as the fees investors have paid to promoters, they will now have to pay the tax owed as well as interest.”
This comes as the Government’s claims that they have been aggressively clamping down on tax avoiders was dealt a blow, when it was revealed Osborne had used “dodgy statistics” to inflate the amount of money collected during his time in power.