HMRC is bringing in new rules that will enable it to issue payment notices or demand notices to investors in tax avoidance schemes, meaning the tax must be paid up front. The money could then be returned to investors if courts subsequently rule that the scheme meet tax rules. The Mail on Sunday states thatpeople who invested in a series of film investment partnerships had been told by the schemes’ organiser, Invicta Capital, that they might not have to pay big overdue tax bills straight away. However, HMRC has suggested that those involved in the scheme will not be exempt from receiving notices.
Source: The Mail on Sunday (15/06/2014)