A tax avoidance scheme used by a regional newspaper publisher has been quashed by a tax tribunal.
Iliffe Media claimed to license newspaper mastheads to avoid tax.
The decision by the first-tier tribunal, Iliffe News and Media Ltd & Ors v Revenue & Customs, TC02365, has protected £5.6m, with a potential further protection of £104m in 67 similar cases, HMRC said.
About Nick Huber
I’m a specialist business journalist and have a particular interest in tax and technology.