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HMRC granted leave to appeal


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Green is right in saying that the appeal is pointless - there is no money, the Old Co is in liquidation and even if HMRC win the appeal, they only gain a larger share of a very small pot of money. It may even cost them more money to pursue the case than they will get back.

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they want us and will do anything to get us. this is not over by a long shot sadly imo.

They can only appeal on a point of law , not on an accountants opinion , that was made clear in the original ruling

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There is something in these types of HMRC cases where they always try to establish something called the 'Ramsay Principle' and they didn't manage it in our case. I think they are trying to get that re-established in this case to cover them in future cases otherwise they are stuffed. I'm hopeless trying to explain or understand the ins and outs, but it seems to be some kind of overruling judgement that you used the rules in a way that you avoided tax (could be wrong) that you really should have paid. Anyway HMRC will not seek further liability is my understanding - they just want the Ramsay thingy re-established. It would end up some kind of middle ground if they succeed with everybody and their granny arguing for evermore whether it means guilty or not guilty, but there won't be big tax penalties.

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