HMRC launches new settlement opportunity

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HMRC has published the terms of a new settlement opportunity open to participants they believe have entered into schemes which seek to get more tax relief than the “real economic cost that they have borne”.

Following news in December of additional investment in the clampdown on tax avoidance and evasion, HMRC invited participants in a variety of schemes to settle their tax liabilities by agreement, without the need for litigation.

The schemes covered include those:

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05th Feb 2013 10:15

HMRC Settlement Opportunity for Film Partnerships

We have a few clients who invested in Film Partnerships a number of years ago and who have now received notification that they are eligible to take up the Settlement Opportunity in respect of those investments.

Obviously it has to be a personal choice for the client as to whether to take up the offer or not, but does anyone have any opinions on this or experience with this yet?
 

Just wondering if anyone has come across any unexpected difficulties that it would be useful to be aware of.

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