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Concern as tax loophole is closed

by isleofman.com 5th November 2010

A unique test case in the London appeal court could create a tax precedent.

IT consultant Robert Huitson was one of scores of people who followed specialist tax advice and set up Isle of Man trusts to avoid British income tax.

He’s now facing a ?100,000 backdated tax bill and is accusing UK Revenue and Customs of violating his human rights.

The scheme was entirely legal and ran for seven years until Parliament closed the loophole retrospectively and issued backdated demands for millions of pounds.

Isle of Man tax expert Phillip Dearden says the implications could be serious:



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Posted by isleofman.com
Friday 5th, November 2010 07:09pm.

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