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Landmark tax case
17 October 2017
HMRC has won a landmark case against tax avoidance scheme promoter that could lead to the recovery of £110m.
The victory over scheme promoter Root2 came after they failed to report a mass-marketed tax avoidance scheme, known as Alchemy, to the tax authority.
The scheme aimed to extract profits from owner-managed companies in the form of winnings from betting on the stock market, which the scheme aimed to ensure would be tax free, rather than in the form of taxable employment income.
HMRC brought the case against Root2 under the Disclosure of Tax Avoidance Scheme (DOTAS) rules, which requires promoters to tell HMRC about avoidance schemes they design and sell.
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