CIOT welcomes Arctic Systems decision
|Category|| 2007 Releases
The Chartered Institute of Taxation (CIOT) welcomes the decision by the House of Lords in the case of the husband and wife company, Arctic Systems Ltd. Anne Redston, CIOT spokesperson, says: “The CIOT is delighted that, after such a long battle, the House of Lords has confirmed that HM Revenue & Customs (HMRC) were wrong to attack husband and wife businesses in this manner. The CIOT has always considered that HMRC were wrong to use this obscure legislation against small businesses like the Jones’s, and the House of Lords has now agreed with us.”
If the decision had gone against Mr and Mrs Jones, many married couples would have faced a very large tax and NIC cost, going back over the last six years.
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