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Negotiation on HMRC interest
by Paul Malin - Tax Partner on 20 April 2012
HM Revenue & Customs (HMRC) are in the dock again following on from the recent challenges through the media to the new pasty tax.
UK Uncut Legal Action is challenging HMRC over its waving of £10m of interest when the deal was done with Goldman Sachs over the use of EBTs since the 1990’s.
In over 25 years of handling disputes with HMRC, I have always been advised by HMRC that interest is non-negotiable and that it is commercial repayment to the Crown for the money it has been deprived of.
The Settlement being, all the taxes, interest on late payment and a penalty, has always been difficult to negotiate in the past. Has the tide now turned such that tax advisers will no longer accept such a bland statement by HMRC in negotiating future Settlements based on this matter?
I know my view has already changed regardless of the outcome of this latest challenge.
What’s your view?
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About Paul Malin
Since 1989, Paul has represented every type of taxpayer (individuals, partnerships, joint ventures, family limited companies, quoted companies and trusts) who, for whatever reason, have failed to comply with all the complexities of UK tax legislation. Paul deals with all offices of HM Revenue & Customs including Specialist Investigations and the High Net Worth Unit. Paul can be contacted on: +44 (0)7919 375 650 anytime.
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