The Revenue has won its eighth tribunal against NT Advisors, adding to its tally of five previous victories over the promoters's schemes.
In Andrew Chappel v HMRC  UKUT 0344 (TCC) the tribunal heard that Andrew Chappell, claimed a deduction of his £303,123 income for two payments.
He said he was entitled to deduct payments from his income for tax purposes, as they were manufactured overseas dividends (MODs) and therefore annual payments.
However the payments had been made as part of a marketed tax avoidance scheme on which HMRC issued a closure notice in 2010, disallowing the payments.
In 2012, Chappell appealed this decision to the first tier tribunal, but this was dismissed. He then took the case to the upper tier tribunal, claiming the previo...