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First-tier Tribunal (Tax) |
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You are here: BAILII >> Databases >> First-tier Tribunal (Tax) >> DELPHI DERIVATIVES LIMITED v Revenue & Customs (PENALTY - Schedule 24 Finance Act 2007 - Employee Benefit Trust ('EBT') Clavis Scheme whereby EBT contributions made via a service provider) [2023] UKFTT 722 (TC) (18 August 2023) URL: http://www.bailii.org/uk/cases/UKFTT/TC/2023/TC08912.html Cite as: [2023] UKFTT 722 (TC) |
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| Decision Number: | TC 08912 |
| Appellant: | DELPHI DERIVATIVES LIMITED |
| Respondent: | His Majesty's Revenue & Customs |
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Chairmen / Special Commissioners: |
Dr Heidi POON |
| Date Of Decision: | 18/08/2023 |
| Main Category: | PROCEDURE |
| Main Subcategory: | Other |
| Notes: | PENALTY - Schedule 24 Finance Act 2007 - Employee Benefit Trust (-˜EBT-™) Clavis Scheme whereby EBT contributions made via a service provider - allocations to sub-trusts for loans to be advanced to directors - Scheme ineffective to avoid income tax and national insurance on contributions into sub-trusts following Rangers - inaccuracies in returns for omission of PAYE and NICs on loans made via the sub-trusts ¬-“ whether inaccuracies -˜careless-™ due to failure to take reasonable care ¬-“ the nexus for a -˜careless-™ inaccuracy for Sch 24 purposes distinguished from -˜causation-™ have derived from the repealed s 95 TMA penalty regime - whether inaccuracy in relation to the last tranche -˜deliberate-™ - appeal dismissed |
