The first tier tribunal (FTT) has dismissed another tax avoidance scheme sold by NT Advisors involving participants, including former BBC star Chris Moyles, masquerading as second-hand car dealers.
The “highly artificial” scheme involved its users claiming to be self-employed used car traders making large tax deductions on finance fees incurred to borrow money to invest in “their trade”.
The ex-Radio 1 DJ participated in the complicated ‘Working Wheels’ tax avoidance scheme, promoted by NT Advisors, along with 450 others between 2006 and 2008 who are now being contacted and asked to pay the tax they owe.
Moyles had filed a self assessment return that claimed he had...
About Robert Lovell
Business and finance journalist